In December 2008, General Motors (GM) was in financial distress and seeking U.S. government aid. You believe that the stock price of GM will move substantially in either direction, up or down, depending on the decision of the Congress to approve or reject a bailout package. GM stock trades at $4.60, a call option on GM with a strike price of $6 trades at $0.48, and a put option on GM with a strike price of $2.50 trades at $0.68. Both options have 1-month to expiration. You currently do not own any GM stock. a) Using only the two options described above, devise a strategy that will turn in a profit if the stock moves substantially in either direction. (Enter either "Long" or "Short" in the boxes below.) Call option Put option a) What is the payoff to this strategy if the GM stock price ends up at $10 at expiration? $ b) What is the payoff to this strategy if the GM stock price ends up at $5 at expiration? $ c) What is the payoff to this strategy if GM goes bankrupt and the stock price goes to zero? $ d) What is the maximum possible loss with this strategy? $