It is November 9, 2018, and you own IBM stock. You would like to insure that the value of your holdings will not fall significantly. Using the data in attached (image below) and express your answer in terms of a percentage of the current value of your portfolio:

Ibm (INTL Business Machines) 122.24 -1.14
Nov 09 2018 @ 12:01 ET Bid 122.24 Ask 122.26 Size 1x2 Vol 2228952
Calls	Last Sale	Net	Bid	Ask	Vol	Open Int	Puts	Last sale	Net	Bid	Ask	Vol	Open Int
2018 Nov 16 115.00 (IBM1816K1150)	7.35	-1.21	7.2	7.4	19	72	2018 Nov 16 115.00 (IBM1816K1150)	0.17	0.06	0.15	0.17	83	2335
2018 Nov 16 120.00 (IBM1816K120)	3	-1.2	3	3.15	194	605	2018 Nov 16 120.00 (IBM1816K120)	0.8	0.17	0.84	0.88	148	2004
2018 Nov 16 125.00 (IBM1816K125)	0.65	-0.49	0.68	0.72	383	2858	2018 Nov 16 125.00 (IBM1816K125)	3.45	0.72	3.4	3.55	671	3407
2018 Nov 16 130.00 (IBM1816K130)	0.08	-0.09	0.08	0.11	526	4133	2018 Nov 16 130.00 (IBM1816K130)	7.98	1.19	7.75	8.35	40	2837
2018 Dec 21 115.00 (IBM1821L115)	8.9	-1.65	8.85	9	8	530	2018 Dec 21 115.00 (IBM1821L115)	1.38	0.27	1.3	1.36	72	2682
2018 Dec 21 120.00 (IBM1821L120)	5.2	-0.78	5.25	5.35	77	14552	2018 Dec 21 120.00 (IBM1821L120)	2.75	0.49	2.65	2.71	282	15803
2018 Dec 21 125.00 (IBM1821L125)	2.59	-0.56	2.59	2.65	287	7850	2018 Dec 21 125.00 (IBM1821L125)	4.95	0.57	5.05	5.25	65	7937
2018 Dec 21 130.00 (IBM1821L130)	1.12	-0.24	1.11	1.18	248	4491	2018 Dec 21 130.00 (IBM1821L130)	8.75	1.07	8.55	9	1	3245

a. What will it cost to insure that the value of your holdings will not fall below $115 per share between now and the third Friday in November? b. What will it cost to insure that the value of your holdings will not fall below $115 per share between now and the third Friday in December? c. What will it cost to insure that the value of your holdings will not fall below $120 per share between now and the third Friday in December?