option is $1.78. a. With her buying the put option on the stock she has already owned, what is the name of the investment strategy that she employed? b. What is Jane's expectation about the price movement of Merck \& Co.? And discuss her purpose of engaging this strategy. c. What is her profit/loss per share on this transaction if the stock price at expiration is (1) $55, (2) $70, and (3) $90