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3) (4 pts) Alan just bought 100 shares of Global, Inc. (GLO) at $146 per share and as protection he also bought a three-month put

3) (4 pts) Alan just bought 100 shares of Global, Inc. (GLO) at $146 per share and as protection he also bought a three-month put contract with a $145 strike price at a cost of $400. IF GLO stock unexpectedly declines to $30 calculate the total profit or loss and explain how the hedge has provided protection for Alan's position in GLO.Ignore transaction costs. Total profit or Loss Explain how hedge provided protection

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