Assume the possible stock prices of Hull Inc. are $150, $155, $160, $165, $170, $175, and $180. The price(premium) is $5 for October165 put option of Hull Inc.

Suppose you buy one October 165 put option contract(Np=100) of Hull Inc. and hold it until the options expire.

a) Determine the profit and loss at respective stock prices of Hull Inc.

b) Determine the breakeven stock price at expiration.

c) What are the maximum possible profit and loss on this transaction