Assume you have shorted a put option on Ford stock with a strike price of $10. The option will expire in exactly six months' time.

If the stock is trading at $5 in six months, what will you be your payoff? (2 points)

If the stock is trading at $19 in six months, what will you be your payoff? (2 points)

Draw a payoff diagram showing the amount you owe at expiration as a function of the stock price at expiration.