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Intro Apple currently trades at $586. Part 1 Attempt 1/8 for 10 pts. You can buy a 3-month put option on Apple stock with a strike price of $581 for $31.2. How much do you have to pay to establish a protective put position for a single unit? 0+ decimals Submit Part 2 Attempt 1/8 for 10 pts In reality, you cannot buy a single option, only an option contract. According to the CBOE website, how many shares of the underlying stock are covered by 1 option contract for equity options? 0+ dedunals Part 3 Attempt 1/8 for 10 pts. From now on, assume you bought 1 put option contract (and no stocks). What is the option payoff at expiration if the stock price has risen to $588? 0+ decimals Submit Part 4 Attempt 1/8 for 10 pts What is the option payoff at expiration if the stock price has fallen to $575? 0+ decimals Submit Attempt 1/8 for 10 pts Part 5 What is your total profit with a stock price of $575