Suppose the 12-month call for XYZ stock with $50 exercise price is currently selling for $4.5, the 12-month put for XYZ with the same exercise price is currently selling for $5. You are using these two options to create a synthetic short position. Describe your trading strategy on the synthetic short position (positions in the call and put so it will mimic the short position) (2 marks). What is the initial cash flow for this strategy (at per share base)?