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For the European Put with the parameters S0=100, E=110, r=0, expiration in 3 months, use the 3-level tree model (dt = 1/12) with u=1.1, d=0.9.

For the European Put with the parameters S0=100, E=110, r=0, expiration in 3 months, use the 3-level tree model (dt = 1/12) with u=1.1, d=0.9. Calculate the option price and deltas. Generate two random paths through the tree and describe hedging procedure and results.

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