The price of a stock in spot market is $36 and the price of a three-month call option on the stock with a strike price of $36 is $3.60 Suppose a trader has $3,600 to invest and is trying to choose between buying 1000 options or 100 shares of stock from spot market now. Evaluate the profit and loss from each strategy under the following 3 conditions using the Table provided Conditions are independent from each other) Condition 1: Spot price in three months is $34. Condition 2: Spot price in three months is $38. Condition 3: Spot price in three months is $42. Conditions Call Option Position Spot Position X 36) 100 - 34-360)*1000 Condition 1 Spot price=34) 100X 3600 - 1000X-37,600 X-537.78 Condition 2 IX 36100 = EX-38-3,601"1000 100x - 3600 = 1000x-41,600 Spotprice-38) X = $42 22 (Spot price:34) 100x - 3600-1000x-37,600 X-S37 78 Condition 2 (X-36) 100 = -38-3.60)*1000 (Spot price381 100x - 3600 = 1000x-41,600 X = $42 22 X 361*100 = 423 601000 Condition Spotprice-42 100-3600 = 1000x 45600 X-S66 67