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7. Please design a bear-viewpoint ELN with face value (FV) of zero-coupon bond, and a shorting position of call option on the index (S) with

7. Please design a bear-viewpoint ELN with face value (FV) of zero-coupon bond, and a shorting position of call option on the index (S) with a strike price K. (1) Showing a mathematical equation for the ELN at maturity. (2) How many units of call options should be sold. (3) Plotting the diagram of the net payoffs for the ELN.

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