The following table lists the options on Amazon shares in January 2018 when Amazon stock was selling for $1,460.

Expiration Date	Exercise Price			Call Price			Put Price
July 2018	$	1,360		$	164.90		$	53.71
		1,460			105.60			97.60
		1,560			64.15			157.65
January 2019		1,360			213.20			88.21
		1,460			156.95			134.85
		1,560			113.60			191.60

Required:

a. Calculate the payoff and the profits for investments in each of the following January 2019 maturity options, assuming that the stock price on the expiration date is $1,510.

b. Calculate the payoff and the profits for investments in each of the following January 2019 maturity options, assuming that the stock price on the expiration date is $1,310.

c. Are the prices of the January 2019 options more or less than those of the corresponding July 2018 options.