i need the answers to both questions

3. 15 marks] Consider the ratio spread position on the S&R index consisting in buying three 1000-strike call options and selling four 1020-strike call options. a) Find the payoff as a function of S, the spot price of the S&R index in 6 months. b) Draw payoff and profit diagrams for this ratio spread position. c) For which values of the spot price S at expiration will this position outperform a long 1000-strike straddle? ou at upimmum time, 2. 10 marks] Suppose the XYZ stock pays a single $3 dividend at some unknown time within the next 12 months. The continuously compounded annual risk free rate is 6 %. Suppose that today's spot price for the XYZ stock is $80 and that its 1-year forward price is $81.84. If there is no advantage to buying the stock or entering into a long forward contract, how many months will pass until the dividend is paid? 3. 15 marks] Consider the ratio spread position on the S&R index consisting in buying three 1000-strike call options and selling four 1020-strike call options. a) Find the payoff as a function of S, the spot price of the S&R index in 6 months. b) Draw payoff and profit diagrams for this ratio spread position. c) For which values of the spot price S at expiration will this position outperform a long 1000-strike straddle? ou at upimmum time, 2. 10 marks] Suppose the XYZ stock pays a single $3 dividend at some unknown time within the next 12 months. The continuously compounded annual risk free rate is 6 %. Suppose that today's spot price for the XYZ stock is $80 and that its 1-year forward price is $81.84. If there is no advantage to buying the stock or entering into a long forward contract, how many months will pass until the dividend is paid