Show graphically and in a table the profit and T-bond price relationships at expiration for the following positions on OTC T-bond options. In each case, assume that the T-bond spot call and put options each have exercise prices of \(\$ 100,000\) and premiums of \(\$ 1,000\), and that there is no accrued interest at expiration. Evaluate at spot T-bond prices of \(\$ 90,000, \$ 95,000, \$ 100,000, \$ 105,000\), and \(\$ 110,000\).

a. A straddle purchase formed with long positions in the T-bond call and put options.

b. A straddle write formed with short positions in T-bond call and put options.

c. A simulated long T-bond position formed by buying the T-bond call and selling the T-bond put.

d. A simulated short stock position formed by selling the T-bond call and buying the T-bond put.