Q.1 (10 points) The following option prices (E is the strike) are given: E = 320 | E = 330E = 340 Call 16.00 8.60 3.80 Put (2.20 4.80 10.00 For a spread containing: 1 long 320 Put, 2 short 330 Puts and 1 long 340 Put, (1) Draw the payoff diagram. (2) Draw the profit diagram. (3) Create a spread with identical payoff using Call options only. Explain why the setup cost of this spread must be the same. Check, with the prices provided, that it is