It is now 11:52 am (still October 14, 2020). Shares of Herman Miller (MLHR) are trading at $32.38. Calls and Puts with a February expiration (about four months from now) with a strike price of $35 are trading at $3.20 and $5.40 respectively. The company is expected to pay a dividend of $0.75 around November 20, 2020 (about 1 month from now). Assume the LIBOR to be 0.85%.

1. Check if there is an opportunity for Arbitrage.

1. Come up with the arbitrage portfolio if there is an opportunity and show that you would actually capture arbitrage profit.