Abigail Hadley is assessing two of the hedge funds that she manages for current returns and potential to improve returns versus her respective benchmark.

Portfolio Guemsey has a substantial current gain from investing in AAPL $[$Apple$].$ The stock twas purchased in Sep $2020$ at a price of $$107.$ It is currently trading around $$179$ with a substantial gain. Abigail believes that the position in AAPL has potential for further upside but is concerned that the stock price might decline during Q$12022.$ Develop a strategy USING OPTIONS that Abigail deploy to preserve a gain of $50\%.$ Provide the folloring:

A$.$ Type of option

B$.$ Description of the strategy

C$.$ Approximate exercise price

D$.$ Time to maturity

Portfolio Cayman has a substantial current gain from investing in CBRE $[$Coldwell Banker Richard Ellis Group$].$ The stock was purchased in Nov $2020$ at a price of $$52.$ It is currently trading at close to $$104.$ Given the performance of the real estate sector, Abigail thinks that the stock will likely attain her target price before the end of Q$12022.$ She will exit the position at a price of $$120.$ Develop a strategy USING OPTIONS that Abigail can deploy to give her a chance to outperform the benchmark when she exits the position. Provide the following:

A$.$ Type of option

B$.$ Description of the strategy

C$.$ Approximate exercise price

D$.$ Time to maturity