"Covered call writing" is the name given to the following strategy: one sells a call option and simultaneously buys a share of underlying stock. Referring to whether the option was in-the-money or out-of-the-money when the writing was initially established, we classify two types of covered call writing: in-the-money covered call writing and out-of-the-money covered call writing. "Protective Put" is the name given to the following strategy: one buys a put option and simultaneously hold a share of underlying stock. Question C1 (Covered Call Writing v.s. Protective Put). Discuss the difference and similarity between covered call writing and protective put. (Words limit: 600;25 Marks)