i) what is an option? ii) Differentiate between a call option and a put option. iii) Texas is a speculator. He bought a call option, the underlying asset being US Dollar at a strike price of GH0.9620 at a premium of GH0.0032. The deliverable date is 2 months from hence. At the time of exercising the right, the price is expected to be Gh0.9682. Determine texas profit or loss on this transaction.