$9\mathrm{.}9.$ Suppose that a European call option to buy a share for $$100\mathrm{.}00$ costs $$5\mathrm{.}00$ and is held until maturity. Under what circumstances will the holder of the option make a profit? Under what circumstances will the option be exercised? Draw a diagram illustrating how the profit from a long position in the option depends on the stock price at maturity of the option. $9\mathrm{.}10.$ Suppose that a European put option to sell a share for $$60$ costs $$8$ and is held until maturity. Under what circumstances will the seller of the option $($the party with the short position$)$ make a profit? Under what circumstances will the option be exercised? Draw a diagram illustrating how the profit from