3. Consider the following position: Buy 5 Citigroup Dec 4 calls @ 1.60 and write 2 Citigroup Dec 3 calls @ 1.60 Shares of Citigroup currently trade at $3.69.

*Strike price: 4 and 3

a) Find the cost of this position

b) Write the specific profit function of this position

c) Draw a profit loss diagram for this position

d) Find the break even stock price(s) for this position

e) Find the maximum profit for this position

f) Find the maximum loss for this position

g) When would one want to enter into this position?