Find investment strategies using Microsoft puts, calls and/or underlying stock, which best express the investor's objectives described below. Construct the profit diagrams and tables, in $10 increments, if the price of Microsoft at expiration falls between $50 and $150. Assume Microsoft currently sells for $100, and that at the money" puts and calls (i.e., with an exercise price of $100) cost $10 each. As usual, the profit calculations ignore dividends and interest. 7. Suppose that NASDAQ suspended trading in Microsoft pending a news and that you are desperate to sell Microsoft before the announcement, announcement. You note that options trading in Microsoft continues uninterrupted on the CBOE (Chicago Board of Options Exchange). Use the insights from the put-call parity in order to figure out an option strategy that will result in the same cash flow stream as if you were able to sell the stock on NASDAQ right away: that is you'd like to get $100 right away, and have a cash flow of zero afterwards