Assume the market value (today) for the options are given below.

Use the following format for cash flows:

if you receive cash use positive numbers; if you pay cash use negative numbers

Call option market value is $4.50; Put option market value is $5.25 both have a $35 strike price.

These 35 options are now at expiration date.

Calculate the entire cash flow you experience when:

• You sell the call (as in #4 above) and stock at expiration is now $37.
• You buy the call (as in #4 above) and stock at expiration is now $37.
• You sell the put (as in #4 above) and stock at expiration is now $33.
• You buy the put (as in #4 above) and stock at expiration is now $33.
• (note: use your initial cash flows (positive or negative) plus any cash flow experienced when the option expires vis--vis the then current stock price given here).