(a) A trader sells 1 put option contract on stock XYZ with a strike price for exercise price of $36 for $2 per option. One contract is on 100 shares (or 100 options) of stock XYZ. What is the trader's maximum gain and maximum loss? (b) m Briefly explain the difference between OTC (over-the-counter and exchange traded contracts. What is the difference between buying a call option and going long on a forward contract underlying set? (c) "Buying a put option when a stock is owned is a form of insurance Briefly explain this statement