Spreadsheet 5.1 Scenario anatysis of holding-period return of the mutual fund c. In what sense does buying the put option constitute a purchase of insurance in this case? You are faced with the probability distribution of the HPR on the stock market index fund given in of the text. Suppose the price of a put option on a share of the index fund with exercise price of $110 and time to expiration of 1 year \& \$ $1 ? o. What is the probability distribution of the HPR on the put option? (Negotive omounts should be indicated by o minus sign, Round your answers to 2 decimal places.) b. What is the probability distribution of the HPR on a portfolio consisting of one share of the index fund and al put option? (Round your answers to 2 decimal ploces.)