3) Please explain the process and application of estimating the Greeks in option pricing. What is the difference in the valuation process of the Black and Scholes model compared to the binomial model. In the Black and Scholes model assume that d1 is equal to 2. What will be the dollar change in the price of a call option and put option when there is a $1.00 increase in the price of the stock. Can you tell whether these options are in the money or out of the money options