Refer to Figure 15.1, which lists the prices of various IBM options. Use the data in the figure to calculate the payoff and the profit/loss for investments in each of the following January 2012 expiration options,assuming that the stock price on the expiration date is $165.

a. Call option, X = 160 b. Put option X = 160 c. Call option, X = 165 d. Put option, X = 165 e. Call Option, X = 170 f. Put Option, X = 170