Hello can anyone please help me in those derivatives questions. I really cant figure out how to do them.

Part A A portfolio contains two separate options: P1(K1) and C2(K2). The portfolio is short in P1(K1) and long in C2(K2). Assume that the two European options described above are for the same underlying assets and have the same maturity (T) and have no interim cash flows (i.e. no dividends). Assume that each of the options has a different strike (Ki) such that K1 K2 P1 -max(0,K1-S)= K1-S -max(0,K1-S)= 0 -max(0,K1-S)= 0 C2 Total max(0,S-K2)=0 S-K_1 max(0,S-K2)=0 max(0,S-K2)=S-K2 S-K2 0 This sheet demonstrates Part B of the solution with the aid of a numerical example Inputs K1 K3 - K2 = K2 - K1 Payoff Table $ $ 100.00 20.00 ... Strikes equally spaced apart. Strike Values K1 K2 K3 $ $ $ 100.00 120.00 140.00 Notes .... Ideally, set input in cell C6 in a range between 5 to 40 for a better plot, given that K1 is set at a 100. ... The plot range for this illustration is where the share price is between 0 to 200 Share Price $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00 $32.00 $33.00 $34.00 $35.00 $36.00 $37.00 $38.00 $39.00 $40.00 $41.00 $42.00 $43.00 $44.00 $45.00 $46.00 $47.00 $48.00 $49.00 $50.00 $51.00 $52.00 $53.00 $54.00 $55.00 $56.00 $57.00 $58.00 $59.00 $60.00 $61.00 $62.00 $63.00 $64.00 $65.00 $66.00 $67.00 $68.00 $69.00 $70.00 $71.00 $72.00 $73.00 $74.00 $75.00 $76.00 $77.00 $78.00 $79.00 $80.00 $81.00 $82.00 $83.00 $84.00 $85.00 $86.00 $87.00 $88.00 $89.00 $90.00 $91.00 $92.00 $93.00 $94.00 $95.00 $96.00 $97.00 $98.00 $99.00 $100.00 $101.00 $102.00 $103.00 $104.00 $105.00 $106.00 $107.00 $108.00 $109.00 $110.00 $111.00 $112.00 $113.00 $114.00 $115.00 $116.00 $117.00 $118.00 $119.00 $120.00 $121.00 $122.00 $123.00 $124.00 $125.00 $126.00 $127.00 $128.00 $129.00 $130.00 $131.00 $132.00 $133.00 $134.00 $135.00 $136.00 $137.00 $138.00 $139.00 $140.00 $141.00 $142.00 $143.00 $144.00 $145.00 $146.00 $147.00 $148.00 $149.00 $150.00 $151.00 $152.00 $153.00 $154.00 $155.00 $156.00 $157.00 $158.00 $159.00 $160.00 $161.00 $162.00 $163.00 $164.00 $165.00 $166.00 $167.00 $168.00 $169.00 $170.00 $171.00 $172.00 $173.00 $174.00 $175.00 $176.00 $177.00 $178.00 $179.00 $180.00 $181.00 $182.00 $183.00 $184.00 $185.00 $186.00 $187.00 $188.00 $189.00 $190.00 $191.00 $192.00 $193.00 $194.00 $195.00 $196.00 $197.00 $198.00 $199.00 $200.00 Plot of Portfolio Payoff C3(K3) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total Portfolio Payoff -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 Total Portfolio Payof $70 $60 Total Portfolio Payof $50 $40 Payoff P1(K1) $100.00 $99.00 $98.00 $97.00 $96.00 $95.00 $94.00 $93.00 $92.00 $91.00 $90.00 $89.00 $88.00 $87.00 $86.00 $85.00 $84.00 $83.00 $82.00 $81.00 $80.00 $79.00 $78.00 $77.00 $76.00 $75.00 $74.00 $73.00 $72.00 $71.00 $70.00 $69.00 $68.00 $67.00 $66.00 $65.00 $64.00 $63.00 $62.00 $61.00 $60.00 $59.00 $58.00 $57.00 Payoff P2(K2) -$120.00 -$119.00 -$118.00 -$117.00 -$116.00 -$115.00 -$114.00 -$113.00 -$112.00 -$111.00 -$110.00 -$109.00 -$108.00 -$107.00 -$106.00 -$105.00 -$104.00 -$103.00 -$102.00 -$101.00 -$100.00 -$99.00 -$98.00 -$97.00 -$96.00 -$95.00 -$94.00 -$93.00 -$92.00 -$91.00 -$90.00 -$89.00 -$88.00 -$87.00 -$86.00 -$85.00 -$84.00 -$83.00 -$82.00 -$81.00 -$80.00 -$79.00 -$78.00 -$77.00 $30 $20 $10 $0 -$10 -$20 -$30 Unde rlying Asse t Price $56.00 $55.00 $54.00 $53.00 $52.00 $51.00 $50.00 $49.00 $48.00 $47.00 $46.00 $45.00 $44.00 $43.00 $42.00 $41.00 $40.00 $39.00 $38.00 $37.00 $36.00 $35.00 $34.00 $33.00 $32.00 $31.00 $30.00 $29.00 $28.00 $27.00 $26.00 $25.00 $24.00 $23.00 $22.00 $21.00 $20.00 $19.00 $18.00 $17.00 $16.00 $15.00 $14.00 $13.00 $12.00 $11.00 $10.00 $9.00 $8.00 $7.00 -$76.00 -$75.00 -$74.00 -$73.00 -$72.00 -$71.00 -$70.00 -$69.00 -$68.00 -$67.00 -$66.00 -$65.00 -$64.00 -$63.00 -$62.00 -$61.00 -$60.00 -$59.00 -$58.00 -$57.00 -$56.00 -$55.00 -$54.00 -$53.00 -$52.00 -$51.00 -$50.00 -$49.00 -$48.00 -$47.00 -$46.00 -$45.00 -$44.00 -$43.00 -$42.00 -$41.00 -$40.00 -$39.00 -$38.00 -$37.00 -$36.00 -$35.00 -$34.00 -$33.00 -$32.00 -$31.00 -$30.00 -$29.00 -$28.00 -$27.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$26.00 -$25.00 -$24.00 -$23.00 -$22.00 -$21.00 -$20.00 -$19.00 -$18.00 -$17.00 -$16.00 -$15.00 -$14.00 -$13.00 -$12.00 -$11.00 -$10.00 -$9.00 -$8.00 -$7.00 -$6.00 -$5.00 -$4.00 -$3.00 -$2.00 -$1.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.00 $2.00 $3.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$19.00 -$18.00 -$17.00 -$16.00 -$15.00 -$14.00 -$13.00 -$12.00 -$11.00 -$10.00 -$9.00 -$8.00 -$7.00 -$6.00 -$5.00 -$4.00 -$3.00 -$2.00 -$1.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.00 $2.00 $3.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00 $32.00 $33.00 $34.00 $35.00 $36.00 $37.00 $38.00 $39.00 $40.00 $41.00 $42.00 $43.00 $44.00 $45.00 $46.00 $47.00 $48.00 $49.00 $50.00 $51.00 $52.00 $53.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00 $32.00 $33.00 $34.00 $35.00 $36.00 $37.00 $38.00 $39.00 $40.00 $41.00 $42.00 $43.00 $44.00 $45.00 $46.00 $47.00 $48.00 $49.00 $50.00 $51.00 $52.00 $53.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $54.00 $55.00 $56.00 $57.00 $58.00 $59.00 $60.00 $54.00 $55.00 $56.00 $57.00 $58.00 $59.00 $60.00 Total Portfolio Payof tfolio Payof Unde rlying Asse t Price Derivatives Project September 2017 Part A Payoff for P1 (K1 ) Since the portfolio is short in option P1 (K1 ), it follows that the payoff is: P1 (K1 ) Payoff = max (0, K1 S) (1) where S denotes the underlying asset price. Payoff for C2 (K2 ) Since the portfolio is long in option C2 (K2 ), it follows that the payoff is: C2 (K2 ) Payoff = max (0, S K2 ) (2) where K1 K2 P1 -max(0,K1-S)= K1-S -max(0,K1-S)= 0 -max(0,K1-S)= 0 C2 Total max(0,S-K2)=0 S-K_1 max(0,S-K2)=0 max(0,S-K2)=S-K2 S-K2 0 This sheet demonstrates Part B of the solution with the aid of a numerical example Inputs K1 K3 - K2 = K2 - K1 Payoff Table $ $ 100.00 20.00 ... Strikes equally spaced apart. Strike Values K1 K2 K3 $ $ $ 100.00 120.00 140.00 Notes .... Ideally, set input in cell C6 in a range between 5 to 40 for a better plot, given that K1 is set at a 100. ... The plot range for this illustration is where the share price is between 0 to 200 Share Price $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00 $32.00 $33.00 $34.00 $35.00 $36.00 $37.00 $38.00 $39.00 $40.00 $41.00 $42.00 $43.00 $44.00 $45.00 $46.00 $47.00 $48.00 $49.00 $50.00 $51.00 $52.00 $53.00 $54.00 $55.00 $56.00 $57.00 $58.00 $59.00 $60.00 $61.00 $62.00 $63.00 $64.00 $65.00 $66.00 $67.00 $68.00 $69.00 $70.00 $71.00 $72.00 $73.00 $74.00 $75.00 $76.00 $77.00 $78.00 $79.00 $80.00 $81.00 $82.00 $83.00 $84.00 $85.00 $86.00 $87.00 $88.00 $89.00 $90.00 $91.00 $92.00 $93.00 $94.00 $95.00 $96.00 $97.00 $98.00 $99.00 $100.00 $101.00 $102.00 $103.00 $104.00 $105.00 $106.00 $107.00 $108.00 $109.00 $110.00 $111.00 $112.00 $113.00 $114.00 $115.00 $116.00 $117.00 $118.00 $119.00 $120.00 $121.00 $122.00 $123.00 $124.00 $125.00 $126.00 $127.00 $128.00 $129.00 $130.00 $131.00 $132.00 $133.00 $134.00 $135.00 $136.00 $137.00 $138.00 $139.00 $140.00 $141.00 $142.00 $143.00 $144.00 $145.00 $146.00 $147.00 $148.00 $149.00 $150.00 $151.00 $152.00 $153.00 $154.00 $155.00 $156.00 $157.00 $158.00 $159.00 $160.00 $161.00 $162.00 $163.00 $164.00 $165.00 $166.00 $167.00 $168.00 $169.00 $170.00 $171.00 $172.00 $173.00 $174.00 $175.00 $176.00 $177.00 $178.00 $179.00 $180.00 $181.00 $182.00 $183.00 $184.00 $185.00 $186.00 $187.00 $188.00 $189.00 $190.00 $191.00 $192.00 $193.00 $194.00 $195.00 $196.00 $197.00 $198.00 $199.00 $200.00 Plot of Portfolio Payoff C3(K3) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total Portfolio Payoff -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 Total Portfolio Payof $70 $60 Total Portfolio Payof $50 $40 Payoff P1(K1) $100.00 $99.00 $98.00 $97.00 $96.00 $95.00 $94.00 $93.00 $92.00 $91.00 $90.00 $89.00 $88.00 $87.00 $86.00 $85.00 $84.00 $83.00 $82.00 $81.00 $80.00 $79.00 $78.00 $77.00 $76.00 $75.00 $74.00 $73.00 $72.00 $71.00 $70.00 $69.00 $68.00 $67.00 $66.00 $65.00 $64.00 $63.00 $62.00 $61.00 $60.00 $59.00 $58.00 $57.00 Payoff P2(K2) -$120.00 -$119.00 -$118.00 -$117.00 -$116.00 -$115.00 -$114.00 -$113.00 -$112.00 -$111.00 -$110.00 -$109.00 -$108.00 -$107.00 -$106.00 -$105.00 -$104.00 -$103.00 -$102.00 -$101.00 -$100.00 -$99.00 -$98.00 -$97.00 -$96.00 -$95.00 -$94.00 -$93.00 -$92.00 -$91.00 -$90.00 -$89.00 -$88.00 -$87.00 -$86.00 -$85.00 -$84.00 -$83.00 -$82.00 -$81.00 -$80.00 -$79.00 -$78.00 -$77.00 $30 $20 $10 $0 -$10 -$20 -$30 Unde rlying Asse t Price $56.00 $55.00 $54.00 $53.00 $52.00 $51.00 $50.00 $49.00 $48.00 $47.00 $46.00 $45.00 $44.00 $43.00 $42.00 $41.00 $40.00 $39.00 $38.00 $37.00 $36.00 $35.00 $34.00 $33.00 $32.00 $31.00 $30.00 $29.00 $28.00 $27.00 $26.00 $25.00 $24.00 $23.00 $22.00 $21.00 $20.00 $19.00 $18.00 $17.00 $16.00 $15.00 $14.00 $13.00 $12.00 $11.00 $10.00 $9.00 $8.00 $7.00 -$76.00 -$75.00 -$74.00 -$73.00 -$72.00 -$71.00 -$70.00 -$69.00 -$68.00 -$67.00 -$66.00 -$65.00 -$64.00 -$63.00 -$62.00 -$61.00 -$60.00 -$59.00 -$58.00 -$57.00 -$56.00 -$55.00 -$54.00 -$53.00 -$52.00 -$51.00 -$50.00 -$49.00 -$48.00 -$47.00 -$46.00 -$45.00 -$44.00 -$43.00 -$42.00 -$41.00 -$40.00 -$39.00 -$38.00 -$37.00 -$36.00 -$35.00 -$34.00 -$33.00 -$32.00 -$31.00 -$30.00 -$29.00 -$28.00 -$27.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$26.00 -$25.00 -$24.00 -$23.00 -$22.00 -$21.00 -$20.00 -$19.00 -$18.00 -$17.00 -$16.00 -$15.00 -$14.00 -$13.00 -$12.00 -$11.00 -$10.00 -$9.00 -$8.00 -$7.00 -$6.00 -$5.00 -$4.00 -$3.00 -$2.00 -$1.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.00 $2.00 $3.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$20.00 -$19.00 -$18.00 -$17.00 -$16.00 -$15.00 -$14.00 -$13.00 -$12.00 -$11.00 -$10.00 -$9.00 -$8.00 -$7.00 -$6.00 -$5.00 -$4.00 -$3.00 -$2.00 -$1.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.00 $2.00 $3.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00 $32.00 $33.00 $34.00 $35.00 $36.00 $37.00 $38.00 $39.00 $40.00 $41.00 $42.00 $43.00 $44.00 $45.00 $46.00 $47.00 $48.00 $49.00 $50.00 $51.00 $52.00 $53.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00 $32.00 $33.00 $34.00 $35.00 $36.00 $37.00 $38.00 $39.00 $40.00 $41.00 $42.00 $43.00 $44.00 $45.00 $46.00 $47.00 $48.00 $49.00 $50.00 $51.00 $52.00 $53.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $54.00 $55.00 $56.00 $57.00 $58.00 $59.00 $60.00 $54.00 $55.00 $56.00 $57.00 $58.00 $59.00 $60.00 Total Portfolio Payof tfolio Payof Unde rlying Asse t Price