Question 384 pts Consider the following options, both expiring May of 2020, with XYZ as their underlying stock:

Call option with $75 strike, selling at a premium for $5.00 Put option with $75 strike, selling at a premium for $3.50 (Note: For partial credit, where applicable, type out the variables and their value. Equations aren't necessary)

A) Assume you hold a long position in the underlying stock and you want to create a covered call strategy. What would you do to implement the strategy and what do you want to happen to the stock price?

B) Once again assume you hold a long position in the underlying stock. This time you want to create a protective put strategy. What would you do to implement the strategy and what do you want to happen to the stock price?

C) For the protective put, what is your per-share profit/loss (i.e. including premiums) if the you bought the stock for $68 and at expiration the stock is trading for $72?