. Consider the pricing of a put option on AAPL. The spot price is $160, the strike price is $160, and the maturity is six months. The growth rate of the AAPL is 2% and its annual volatility is 25%. The annualized interest rate for monthly compounding is fixed at 0.75%. 1 4.1. Calculate the option value and hedge ratio (i.e., alpha) using a six-step binomial tree. 4.2. If the path of the stock price for the next six months is {(0,0), (0,1), (1,2), (2,3), (3,4), (3,5), (4,6)}, provide the alpha's for delta hedging along the path. . Consider the pricing of a put option on AAPL. The spot price is $160, the strike price is $160, and the maturity is six months. The growth rate of the AAPL is 2% and its annual volatility is 25%. The annualized interest rate for monthly compounding is fixed at 0.75%. 1 4.1. Calculate the option value and hedge ratio (i.e., alpha) using a six-step binomial tree. 4.2. If the path of the stock price for the next six months is {(0,0), (0,1), (1,2), (2,3), (3,4), (3,5), (4,6)}, provide the alpha's for delta hedging along the path