Question 5 In May XYZ trades at $50. The stock pays no dividends. The call prices are Strike July October January 45 7 9 11 50 4 6 8 55 1 3 5 Assume each option controls 1 share of stock (a) Consider the payout at expiration of a strategy consisting of going long 1 share of stock and selling the July 45 call Establish the payout and profit tables and plot the payout at expiration and the profit at expiration. (b) Consider the payout and profit of going long one share and selling two July 45 calls. (c) Consider the payout and profit strategy at expiration of buying two October 50 call options and selling one October 45 call option. (d) Consider the payout and profit strategy at expiration of buying two October 50 call options and selling one October 45 call option and one 55 October call option.