Melissa is a young professional who expects to receive $ 45,000 on December 30, 2021. To improve her retirement fund, she plans to buy shares of the company ACME Generacin-Elica, S.A. with a current price of $ 40 / share. To formalize her intention to acquire 1,000 shares, Melissa considers the following alternatives: a) Make a futures contract to receive 1,000 shares in exchange for $ 45,000 on December 30.

b) Buy a call option, paying $ 40 / share with a premium of $ 5.0 / share, expiring on December 30.

To help you evaluate her investment, she develops a table that considers the possibility that the stock, as of December 30, is worth: $ 35, 40, 45 and $ 50 / share. Show the profit curve as a function of the price of the underlying. Evaluate how Arturo can do, with each of the investment alternatives, if as of December 30 the share price is: $ 40, 45 or $ 50 / share. In these three cases, what should Melissa do? Why?