Question 1 Petcom Ltd's stock is currently trading at $25 per share. The information of the put option on Petcom's stock is show below. t Type: : European put option- Time to maturity: 3 months later Exercise price: $24 per share- Premium: $3.2 per share t Raymond buys 1,000 shares of the put option. + t A. B. Is the put option currently in-the-money, at-the-money or out of the money? Explain.' Calculate Raymond's possible maximum loss. Calculate Raymond's profit or loss on the options at the following stock prices. i. $234 C. $26- t D. Calculate the stock price at which Raymond will break even on the options (no profit and no loss). t E. If the put option is an American option instead of a European option, should the option price be higher or lower than $3.2 per share? Explain