Q1.

Find the portfolio if William: i. buys two call options with the strike price K and short sell one share.

ii. buys one call option C with strike K1 and sell one put P with strike price K2.

Q2

Find the portfolio if Oliver: i. buys three put options(P) and two call options (C) with the strike price K1 and K2 respectively and short sell three shares. ii. short sell one share, buy two puts and sells three call options with strike K1 and K2 respectively.