In order for a trade to earn a profit, the stock must be sold for more than it was bought. For example, if I buy an apple for 25 cents and sell it to someone else for a dollar, I made a 75 cent profit.
Shorting is when you borrow a stock from someone and selling it. Then, you later buy the stock back and return it.
Now let's examine the options.
I. Bought for $99 and sold for $75 does NOT earn a profit.
II. Sold for $75 and bought for $33 DOES earn a profit.
III. Bought for $99 and sold for $33 does NOT earn a profit.
The answer is II only.
