See attached please. As always I'll tip more ($40+) if they can be completed within the hour (12:45pm EST start time) please.

1. (TCO C) An investor bought 100 shares of stock at $50. The stock now sells for $70 and the investor writes a 70 call for $3.50. What is the maximum possible gain and loss in this covered call position? 2. (TCO D) An investor bought stock at $80 and sold a covered call with an 85 strike price for $2. The stock now sells for $90. Part 1: What is the intrinsic value in the option? Assume the call is priced at $7. Part 1: What is the time value in the option? Part 2: What would you expect to happen to the value of the call and the 85 put if a shock to the market causes volatility to increase dramatically? 3. (TCO E) Part 1: If you hold two XYZ Dec 90 calls and the stock splits 2 for 1, what will be your resulting position? Part 2: What is the gain or loss for the following long butterfly spread if the stock is at $204 at expiration? Buy 1 Jun 200 call at 9 Sell 2 Jun 205 calls at 5 Buy 1 Jun 210 call at 2 Part 3: Construct a bull put spread with the following options: Apr 40 put at 3 Apr 45 put at 6 Show the P/L result over a range of 38-47. 4. (TCO G) What are the independent variables in the equity options pricing model? What is the most likely delta for an at-the-money call? What is the most likely delta for an at-the-money put? Why do some portfolio managers attempt to remain delta neutral? Why would straddle writers not attempt to move away from delta neutrality? (Points : 40)