Problem 1: Options Basics (5 points) Imagine AAPL stock ciosed at $520 on November 15th. At that time, the following options were traded for AAPL stock: Call or put Expiration date Strike price Option premium Call December 21st $505 $26.50 Put December 2 1st $5ii5 $ 1 3.30 Assume the interest rate is 0%. (a) According to putcall parity, what is the present value of AAPL dividends between November 15th and December 21st? Present value of dividends: (b) Assuming; AAPL's share price increases by 5% between now and December 21st, compute the payoff, prot, and return for each of the following positions: (i) A long position in 10!] call options, bought at $26.50 per call. (ii) A long position in 150 put options, bought at $13.30 per put. As a reminder, the payoff from an options position is the value of the option at expiration [ignoring the premium paid), the prot is the payoff minus the premium, and the return equals the prot divided by the initial premium. Position Payo' Prot Return Long 100 call options Long 100 put options