A call option with a strike price of $100 costs $5. A put option with a strike price of $85 costs $4.

a. When should I exercise my options? b. For what range of future stock prices would the strategy lead to a gain and what is the maximum gain you can receive? Prove your answer by providing an example. c. For what range of future stock prices would the strategy lead to a loss and what is the maximum loss you could sustain? Prove it by giving an example.

PLEASE ANSWER THESE EXACT QUESTIONS NOT COPY PASTE FROM CHEGG