Suppose it is the beginning of trade on April 16, 2016 and you observe the following list of options written on the BIST30 index, all of which are due to expire in nine months (approximately 180 trading days). The expiration date payoffs of these options are 0.02 times the regular intrinsic value of each option. The level of the BIST30 index at the time was 1050. Answer the following questions using this data. Option Type Expiry Strike Ref Ratio Price C Call 30/12/2016 1100 1050 0.02 1.50 Call 30/12/2016 1050 1050 0.02 2.00 C Call 30/12/2016 1000 1050 0.02 2.60 P Put 30/12/2016 1100 1050 0.02 1.45 P2 30/12/2016 1050 1050 0.02 1.00 P3 30/12/2016 1000 1050 0.02 0.65 C2 Put Put 2. Quantitatively illustrate how a call bear spread can be constructed using any number of the options given above. Clearly indicate what options you use, draw the profit diagrams of the position you create, and numerically identify the axis intersection points and maximum/minimum payoffs