3. Suppose you own S13,000. A stock costs $25 today. A put option written on the stock with maturity of 6 mont hs and a strike price of S23.5 costs 81 (this gives you the right to sell 1 stock in 6 months for the fixed price of $23.5). (a) What is the prolit (payoff minms cost) of investing all your money in stockes if after 6 months the stock price turns out to be $15, S20, S25, $30 or $35? (b) What is the profit if you invest all your money in buying put options (instead of stodks) if after 6 months the stock price tuns out to be $15, S20, S25, S30 or S35? () What is the profit if you buy 500 stocks and 500 put options if after 6 months the stock price turns out to be $15, 820, $25, 830 or $35? (d) What is the profit if you write (sell) 10000 put options (assume the risk free rate is zero) if after 6 months the stock price turns out to be $15, S20, $25, 830 or $35? (e) Discuss the four investment strategies. Does either of the four strategies dominate any of the others? Why would someone invest in either of the strategies