9) Suppose that an investor holds 100 shares of Black Sox, Inc. stock , currently valued at $45/share. She is concerned that over the next 3 months the value of her holding might decline. She wants to use a put option hedging strategy to protect her portfolio of Sox stocks? a) (5 pts) Should she take a long position or short position in the put option? Why? b) (10 pts) A put option with a strike price of $45 costs $3.50. Graphically describe her net profit of her 100 shares and put options from various spot prices of her Sox stock that ranges from $25 to $100 per share at the time of maturity in 3 months