After yesterday's bell, Apple announced its earnings. Just before the market close yesterday, the following was observed: The ask price for APPL was $730.00. The August Microsoft $750.00 call option ask price was $15.00. The August Microsoft $750.00 put option ask price was $15.00.

a. WITHOUT looking at the results in part B, describe the strategy have taken to profit from a strong move in Microsoft shares in either direction using these options and how much your strategy would cost, assuming single contract(s) (ignoring transaction costs). You planned to close your positions when the market opened this morning

b. After the bell last night, Apple announced earnings that beat expectations. The stock opened today at $780. The August $750.00 call bid price was $35 at the open and the July $750.00 put bid price was $5. Assume you closed your option position(s) at the open. Provide a detailed accounting of your profit or loss resulting from the strategy employed in part a.)