a) How much must you pay for that option (which is based on 100 shares)? b) (8) Assume IBM stock today is at $79.15 per share, and a "January 70 put" is priced at $2.60. If IBM is $80 when the put expires in July, how much will it be worth? How much did you win or lose? c) Would a "January 75 put" cost more or less? d) Would an "March 70" put cost more or less? e) For the "January 70 Put", assume that IBM is at $64 per share at expiration. What is the option worth? What is your overall profit or loss including your purchase price?