need only the second one

i cant use excel!

P14.16 Suppose the DJIA stands at 11,200. You want to set up a long straddle by purchasing 100 calls and an equal number of puts on the index, both of which expire in three months and have a strike of 112. The put price is listed at $1.65 and the call sells for $2.65. a. What will it cost you to set up the straddle, and how much profit (or loss) do you stand to make if the market falls by 750 points by the expiration dates on the options? What if it goes up by 750 points by expiration? What if it stays at 11,2002 b. Repeat part a, but this time assume that you set up a short straddle by selling/ writing 100 July 112 puts and calls. c. What do you think of the use of option straddles as an investment strategy? What are the risks, and what are the rewards? P14.12 Myles Houck holds 600 shares of Lubbock Gas and Light. He bought the stock several years ago at $48.50, and the shares are now trading at $75. Myles is concerned that the market is beginning to soften. He doesn't want to sell the stock, but he would like to be able to protect the profit he's made. He decides to hedge his position by buying six puts on Lubbock G&L. The three-month puts carry a strike price of $75 and are currently trading at $2.50. a. How much profit or loss will Myles make on this deal if the price of Lubbock G&L does indeed drop to $60 a share by the expiration date on the puts? b. How would he do if the stock kept going up in price and reached $90 a share by the expiration date? c. What do you see as the major advantages of using puts as hedge vehicles? d. Would Myles have been better off using in-the-money putsthat is, puts with an $85 strike price that are trading at $10.50? How about using out-of-the-money puts-say, those with a $70 strike price, trading at $1.00? Explain