Suppose that you buy an outperformance call option with the following terms:

- Portfolio X consists of bouds with a market value of \(\$ 5\) million.

- Portfolio Y consists of stocks with a market value of \(\$ 5\) million.

- The expiration date is nine months from now and is a European option.

- The strike price is equal to Market value of Portfolio X Market value of Portfolio \(Y\)

What is the payoff of this option if at the expiration date the market value of Portfolio \(\mathrm{X}\) is \(\$ 10\) million and the market value of Portfolio \(Y\) is \(\$ 12\) million?