Income The following table is for part (a). August (AUG) Index Call Delta Strike Price Premium Delta Maximum Contracts 305 4.875 0.435 171 310 3.00 0.324 203 315 1.75 0.228 244 320 1.00 0.151 301 $83,362 60,900 42,700 30,100 (a) Referring to the above table, suppose a fund manager used AUG 315 index calls to make up a fund income shortfall of $16,624. How many contracts would be required? (5 marks) (b) A call premium is worth $2 per option. Its option strike price is $99 per option. The underlying asset sells for $100. The riskless interest rate is 5%. The option expires in 1 month. What is the theoretical put value? (5 marks) Income The following table is for part (a). August (AUG) Index Call Delta Strike Price Premium Delta Maximum Contracts 305 4.875 0.435 171 310 3.00 0.324 203 315 1.75 0.228 244 320 1.00 0.151 301 $83,362 60,900 42,700 30,100 (a) Referring to the above table, suppose a fund manager used AUG 315 index calls to make up a fund income shortfall of $16,624. How many contracts would be required? (5 marks) (b) A call premium is worth $2 per option. Its option strike price is $99 per option. The underlying asset sells for $100. The riskless interest rate is 5%. The option expires in 1 month. What is the theoretical put value