Determine the profit equations with notations and state the strategies (bear or bull market strategy). Identify and draw graph for the breakeven stock price at expiration, minimum and maximum profits for the following questions by making necessary calculations and using the information below :

2.Take the following position: Short 595 shares of stock and long 1000 call option. Assume that the current stock price is 160$, exercise price is 170$ and the stock price at options expiration is 166 $. (Show the potential profits, break even points and graph with notations-just like calculate numerical solutions as well)

3. Take the following position: Long 100 put options with exercise price 170 and short 100 call options with exercise price 165. Assume that the current stock price and the stock price at options expiration are 160 $ and 163 $, respectively. (Show the potential profits, break even points and graph with notations-just like calculate numerical solutions as well)