3. Consider speculator willing to enter an option market on wheat. He/she expects for the price of underlying asset to increase to the level of 25 EUR per 10 kg in 1,5Y from the current market price of 22 EUR per 10 kg. On the market speculator can purchase or write a CALL or PUT option on a delivery in 1,5 year of 10 kg of wheat for a price of 23,5 EUR per 10 kg and a premium of 1,4 EUR per 10 kg. Which position and in which type of option contract would provide speculator with the highest total profit from option/s investment assuming that his/her expectations were true