on 19/11/2019. Use labelled diagrams to show that they conform to theory in questions 2 and 3.

2.Explain the differing offer prices of ANZ put options with exercise prices of $25.50 and different expiry dates.

3.Explain why the offer prices of ANZ call options with exercise prices of $18.01, 25.50 and 28.00 are successively lower.

Shares	2019-11-19
Code	Last		$+/-	%Chg	Bid	Offer	Open		High	Low	Volume
ANZ	25.42		0.12	0.47%	25.4	25. 42	25.3		25.42	25.2	6,036,835
Qptions	(Show Open Interest only)
Code	Expiry date	P/C	Exercise	Bid offer					Volume
ANZLFZ	21/11/2019	call	25.5 . 0.145 0.145					Last		Openinterest	Margin Price
ANZSI8	28/11/19	call	0.01	25. 42 25.42				0		40	0.125
ANZRR8	28/11/19	call	25.500 0.225 0.225					0		40	25.295
ANZMO7	19/12/19	call	18.01	7.425 7.425				0		1,832	0.19
ANZSH9	19/12/19	call	25.5 0.380 0.380					0		19	7.305
ANZFY7	19/12/19	call	28	0.001 0.001				0		644	0.355
ANZN69	30/01/20	call	25.500 0.605 0.605					0		1,670	0.004
ANZZH9	27/02/20	call	25.500 0.730 0.730					0	20	39	0.555
ANZT87	26/03/20	call	25.500 0.875 0.875					0.75		64	0.685
ANZE69	25/06/20	call	25.500 1.055 1.055					0	14	150	0.815
ANZLG7	21/11/19	call	25.500 0.150 0.150					0		805	0.995
ANZRS8	28/11/19	put	25.500 0.290 0.290					0	73	880	0.37
ANZFK8	19/12/19	put	18	0.000 0.000				0		120	0
ANZSI9	19/12/19	put	25.5 0.465 0.465					0		647	0.55
ANZVZ9	19/12/19	put	28.01	2.590 2.590				0		714	2.71
ANZN79	30/01/20	put	25.5 0.640 0.640					0.81		844	0.705
ANZZI9	27/02/20	put	25.500 0.760 0.760					0	70	60	0.83
ANZT97 ANZE79	26/03/20	put	25.500 0.885 0.885					0		220	0.975
	25/06/20	put	25.500 1.570 1.570					0		4,700	1.635

Shares 19/11/2019 Low Code ANZ Last 25.420 $+/- %Chg 0.12 0.47% Bid Offer Open 25.4 25.42 25.3 High 25.42 Volume 6,036,835 25.2. Options (Show Open Interest only) Expiry Open Code P/C Exercise Bid Offer Last Volume Margin Price date interest ANZLFZ 21/11/2019 Call 25.500 0.145 0.145 0 40 0.125 ANZSI8 28/11/2019 Call 0.01 25.42 25.42 0 40 25.295 ANZRR8 28/11/2019 Call 25.500 0.225 0.225 0 1,832 0.19 ANZMO7 19/12/2019 Call 18.010 7.425 7.425 0 19 7.305 ANZSH9 19/12/2019 Call 25.500 0.380 0.380 0 644 0.355 ANZFY7 19/12/2019 Call 28.000 0.001 0.001 0 1,670 0.004 ANZN69 30/01/2020 Call 25.500 0.605 0.605 0 20 39 0.555 ANZZH9 27/02/2020 Call 25.500 0.730 0.730 0 64 0.685 ANZT87 26/03/2020 Call 25.500 0.875 0.875 0.75 150 0.815 ANZE69 25/06/2020 Call 25.500 1.055 1.055 0 805 0.995 ANZLG7 21/11/2019 Put 25.500 0.150 0.150 0 120 0.27 ANZRS8 28/11/2019 Put 25.500 0.290 0.290 0.325 73 880 0.37 ANZFK8 19/12/2019 Put 18.000 0.000 0.000 0 120 0 ANZSIS 19/12/2019 Put 25.500 0.465 0.465 0 647 0.55 ANZVZ9 19/12/2019 Put 28.010 2.590 2.590 0 714 2.71 ANZN79 30/01/2020 Put 25.500 0.640 0.640 844 0.705 ANZZI9 27/02/2020 Put 25.500 0.760 0.760 0.81 70 60 0.83 ANZT97 26/03/2020 Put 25.500 0.885 0.885 0 220 0.975 ANZE79 25/06/2020 Put 25.500 1.570 1.570 0 4,700 1.635 14 o Shares 19/11/2019 Low Code ANZ Last 25.420 $+/- %Chg 0.12 0.47% Bid Offer Open 25.4 25.42 25.3 High 25.42 Volume 6,036,835 25.2. Options (Show Open Interest only) Expiry Open Code P/C Exercise Bid Offer Last Volume Margin Price date interest ANZLFZ 21/11/2019 Call 25.500 0.145 0.145 0 40 0.125 ANZSI8 28/11/2019 Call 0.01 25.42 25.42 0 40 25.295 ANZRR8 28/11/2019 Call 25.500 0.225 0.225 0 1,832 0.19 ANZMO7 19/12/2019 Call 18.010 7.425 7.425 0 19 7.305 ANZSH9 19/12/2019 Call 25.500 0.380 0.380 0 644 0.355 ANZFY7 19/12/2019 Call 28.000 0.001 0.001 0 1,670 0.004 ANZN69 30/01/2020 Call 25.500 0.605 0.605 0 20 39 0.555 ANZZH9 27/02/2020 Call 25.500 0.730 0.730 0 64 0.685 ANZT87 26/03/2020 Call 25.500 0.875 0.875 0.75 150 0.815 ANZE69 25/06/2020 Call 25.500 1.055 1.055 0 805 0.995 ANZLG7 21/11/2019 Put 25.500 0.150 0.150 0 120 0.27 ANZRS8 28/11/2019 Put 25.500 0.290 0.290 0.325 73 880 0.37 ANZFK8 19/12/2019 Put 18.000 0.000 0.000 0 120 0 ANZSIS 19/12/2019 Put 25.500 0.465 0.465 0 647 0.55 ANZVZ9 19/12/2019 Put 28.010 2.590 2.590 0 714 2.71 ANZN79 30/01/2020 Put 25.500 0.640 0.640 844 0.705 ANZZI9 27/02/2020 Put 25.500 0.760 0.760 0.81 70 60 0.83 ANZT97 26/03/2020 Put 25.500 0.885 0.885 0 220 0.975 ANZE79 25/06/2020 Put 25.500 1.570 1.570 0 4,700 1.635 14 o