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5. Part I: A European call option on an underlying stock has a strike price of 47 and expires today. a. What are the payoffs

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5. Part I: A European call option on an underlying stock has a strike price of 47 and expires today. a. What are the payoffs today to the option buyer when the stock price is 35? b. What are the payoffs today to the option writer when the stock price is 35? c. What are the payoffs today to the option buyer when the stock price is 53? d. What are the payoffs today to the option writer when the stock price is 53? Part II: A European put option on an underlying stock has a strike price of 46 and expires today. a. What are the payoffs today to the option buyer when the stock price is 35? b. What are the payoffs today to the option writer when the stock price is 35? c. What are the payoffs today to the option buyer when the stock price is 53? d. What are the payoffs today to the option writer when the stock price is 53

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