Problem 1 (20 pints) On June 1, the stock price was $50 per share. Bob purchased 10 shares of this stock. John purchased a call option for 10 shares of the stock with an expiry date of July 1st. The exercise price is $60 per share and the cost of this option is 850. Alice purchased a put option for 10 shares of the stock with an expiry date of July 1st. The exercise price is 840 per share and the cost of this put option is $50. What are the profits for Bob, John and Alice if the stock price on July 1st is 880/share and $20/share, respectively