tails of European call options on a non-dividend paying stock with the same expiry, are as follows: a. An investor would like to create an iron condor using the above options - holding a bull call spread made of the $12.5 and $15 calls and at the same time holding a bear call spread made of the $17.50 and $20 calls. Draw the profit and loss diagram of the iron condor on the option expiration date with the underlying asset prices ranging from 0 to $25 shown on the horizontal axis. In a separate answer, list i) the break-even (B/E) points, ii) maximum profit, and iii) maximum loss. Ignore any transaction costs to create the portfolio other than the cost of buying/selling the options. ( 8 marks) b. Assume that for each call option listed above, a corresponding put option written on the same stock with the same expiry and strike price exists. Describe how one can create a position with the same payoff as the iron condor in Part a) above with the corresponding put options only