Consider a European at the money call and a european at the money put on IBM stock with strike $100 nad 3 months to maturity. The call is selling at $5 and the put price is $4. Suppose an investor bought 1 call, two puts and 1 share of the stock.

a)Draw the payoff diagram of this portfolio, on a per-share basis.

b)Draw the profit/loss diagram for the buyer and the seller of this portfolio, on a per-share basis.

c)what is the expiration date stock price range within which the investor will make a positive profit?