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9 . Consider the following position: Buy 3 RRR May 1 7 . 5 puts at 1 . 8 Sell 3 RRR May 1 5

9. Consider the following position:
Buy 3 RRR May 17.5 puts at 1.8
Sell 3 RRR May 15 puts at .3
a. What type of position is this?
b. Is it bullish, bearish, or neutral?
c. What is the net investment or margin required?
d. What is the maximum profit or gain this can make?
e. What is the gain or loss if RRR is 14.8 at January expiration?

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