1. Consider a call option with a strike price of $35 and maturity in December, and a put option with a strike price of $35 that also expires in December, both on a stock currently selling at $37 per share . Calculate how much money these options are in or out of.

2. Suppose that both a call and a put option are written on a stock with a strike price of $40. The current stock price is $42 and the buy and sell premiums are $3 and $0.75, respectively. Calculate the profit of both long and short positions for both sell and buy with a stock price of $30 on expiry and $45 at expiry.