Please use the following information for European options to answer Q8 to 29. Stock price: 241.4 Interest rate: 0.5% Time to maturity: 3 months Dividends: 0 Volatility: 10% (annualized) Type Call Strike Premium 245 3.20 235 0.75 Put Q8. a) Please construct a collar trading strategy if you expect the price will slightly higher. b) Please depict the payoff pattern for your strategy. c) Please estimate break even points for your strategy. d) Please estimate the probability for you to lose money in this trade, given the expected return is 0. Please use the following information for European options to answer Q8 to 29. Stock price: 241.4 Interest rate: 0.5% Time to maturity: 3 months Dividends: 0 Volatility: 10% (annualized) Type Call Strike Premium 245 3.20 235 0.75 Put Q8. a) Please construct a collar trading strategy if you expect the price will slightly higher. b) Please depict the payoff pattern for your strategy. c) Please estimate break even points for your strategy. d) Please estimate the probability for you to lose money in this trade, given the expected return is 0