A trader sells 10,000 European call options on a non-dividend-paying stock when stock price is 25, the strike price is 50, risk-free rate is 5%, expected return is 0%, stock price volatility is 80% per annum, and time to maturity is 1 year.

a. Plot the loss distribution in 10 days as a histogram by using Monte Carlo simulation.

b. Estimate the 10-day 99% value-at-risk and expected shortfall.