Please so all step, and all equations broken down, even for calculation as simple as, for example, standard deviation:Thanks

Suppose that call options on ExxonMobil stock with time to expiration 3 months and strike price $90 are selling at an implied volatility of 30%. ExxonMobil stock currently is $90 per share, and the risk-free rate is 4%.

1) If you believe the true volatility of the stock is 32%, how can you trade on your belief without taking on exposure to the performance of ExxonMobil? How many shares of stock will you hold for each option contract purchased or sold?

2) Using the data in the previous problem, suppose that 3-month put options with a strike price of $90 are selling at an implied volatility of 34%. Construct a delta-neutral portfolio comprising positions in calls and puts that will profit when the option prices come back into alignment.