Instructions 1. This is an individual assignment. 2. Please write your answers in a Word or pdf format and submit them on Canvas. 3. For questions regarding the payoff diagrams, you can use Excel to draw the diagrams and paste the pictures into your solution file. 4. Late submissions will be deducted 10 points in the homework score. Questions (5 points for each question) 1. Plot the payoff of a long call option, a short call option, a long put option, and a short put option with strike price K=120 and expiry T, respectively.