A one-year forward transaction on the US dollar is an agreement in which we agree today to exchange $1 for F pounds one year from now. F denotes the forward quote.

Suppose that you see a forward quote of F = 0.8. Does there exist an option-based arbitrage strategy? If you answer no, explain why and if you answer yes construct this strategy and prove there is arbitrage.

Strike Put Call 0.66 0.10 0.37 0.68 0.12 0.3 0.70 0.15 0.24 0.72 0.19 0.19 0.74 0.24 0.15 0.76 0.3 0.12 0.78 0.37 0.1