12. TSLA is expected to release their earnings between Oct 30th and Nov 6th. You own the stock. Describe one options trade you can do to hedge your stock position and why. (5)

13. TSLA is expected to release their earnings between Oct 30th and Nov 6th. Describe an options trade you can do if you believe the stock will be more volatile than expected. What outcome do you need in order to make money, and what is the most you can lose? (5)