.At t you write a (naked) IBM put option for SP at a strike price of sx. It is exercised on you at T. For tax purposes at T you a. Bought IBM stock for $X b. Bought IBM stock for (X-P) c. Sold IBM stock for SX d. Sold IBM stock for $ (XP) e. None of the above 6. At t you bought a (naked) IBM call option for SC at a strike price of SX. You exercise it at T and put the IBM stock in your portfolio. Your cash flow at T is a. An outflow of S (C+X) b. An inflow of S(S-X) c. An outflow of SX d. An inflow of SX e. None of the above In questions #7, and #8 assume that the initial margin requirement for writing a naked option is the premium plus 20% of the stock value plus any necessary adjustments for not being at-the-money. Also assume the margin requirement for stock is 50%. 7. An investor buys a (naked) call option. The option price is $4 at a strike price of $50 and a stock price of $52. What is the investor's net cash outflow when entering into this trade? a. $50 b. $400 c. $520 d. $1040 e. $1440 8. An investor writes a (naked) call option. The option price is $4 at a strike price of S50 and stock price of $52. What is the investor's net cash outflow when entering into this trade? a. $50 b. $400 c. $520 d. $1040 e.$1440