Question 3 Mukesh Garg, a manager of an Australian listed company, received 15,000 shares of his company as part of his compensation package. William would like to defer selling the stock for three months. However, William is worried about the price risk involved in keeping his shares for three months. Therefore, he is considering using the collar or put strategy to protect the value of his portfolio. A call option on a share of the company has a strike price of $130 and sells for $2.00 A put option on a share of the company has a strike price $110 and sells for $2.00. Calculate William's net income after three months for the following share prices: (a) $135 (b ) $120 (c) $100