1. Assume that you buy two European X=50 calls on a stock for a premium of $5 each and simultaneously sell two European X=60 puts on the same stock for a premium of $6 each. All options have the same maturity. At maturity the stock is selling for $60. The profit from your entire position is

a) $22

b) $20.

c) $15.

d) -$8.

e) none of the above

PLEASE SHOW ALL STEPS AND EXPLAIN, NO EXCEL