4. (15 points) Synthetic Long Forward Synthetic Long Forward 25.00 20.00 15.00 10.00 5.00 ....????? Profit ($) 0.00 ....????? 20 25 30 45 SO 55 60 Synth Fwd (Combined 15.00) (10.00) (15.00) (20.00) (25.00) a) In the diagram above, two option transactions (the purchase or writing of calls or puts) are combined to create a long position. Identify the option transactions. b) Let K be the ATM strike for both calls and puts and let K_K 4. (15 points) Synthetic Long Forward Synthetic Long Forward 25.00 20.00 15.00 10.00 5.00 ....????? Profit ($) 0.00 ....????? 20 25 30 45 SO 55 60 Synth Fwd (Combined 15.00) (10.00) (15.00) (20.00) (25.00) a) In the diagram above, two option transactions (the purchase or writing of calls or puts) are combined to create a long position. Identify the option transactions. b) Let K be the ATM strike for both calls and puts and let K_K