2. We purchase one share of a non-dividend paying stock for S(0) = $98. We insure this postion with a 1-year 96-strike put whose premium is $4.00. (1) What is the maximum loss on this position? (2) What is the break even point? (3) Draw and label a profit diagram for this position. 3. We short one share of a non-dividend paying stock for S(0) = $98. We insure this postion with a 1-year 96-strike call whose premium is $7.90. (1) What is the maximum loss on this position? (2) What is the break even point? (3) Draw and label a profit diagram for this position. (4) What is the maximum profit for this position? 2. We purchase one share of a non-dividend paying stock for S(0) = $98. We insure this postion with a 1-year 96-strike put whose premium is $4.00. (1) What is the maximum loss on this position? (2) What is the break even point? (3) Draw and label a profit diagram for this position. 3. We short one share of a non-dividend paying stock for S(0) = $98. We insure this postion with a 1-year 96-strike call whose premium is $7.90. (1) What is the maximum loss on this position? (2) What is the break even point? (3) Draw and label a profit diagram for this position. (4) What is the maximum profit for this position