. The common stock of Pioneer Natural Resources (PXD) is trading at USD 135 and an at-the-money put option on PXD can be bought from or sold to Morgan Stanley for USD 10. Curiously, a PXD put with the same maturity but with a strike price of USD 115 can be bought from or sold to Merrill Lynch for USD 10. If you plan to hold the options to maturity: (a) Devise a zero-net-investment arbitrage strategy (you use the premium from selling one option to buy the other) to exploit the pricing anomaly. (b) Draw the payoff diagram for your position at maturity. (c) What is the name of your position? . The common stock of Pioneer Natural Resources (PXD) is trading at USD 135 and an at-the-money put option on PXD can be bought from or sold to Morgan Stanley for USD 10. Curiously, a PXD put with the same maturity but with a strike price of USD 115 can be bought from or sold to Merrill Lynch for USD 10. If you plan to hold the options to maturity: (a) Devise a zero-net-investment arbitrage strategy (you use the premium from selling one option to buy the other) to exploit the pricing anomaly. (b) Draw the payoff diagram for your position at maturity. (c) What is the name of your position