The price of a stock is $40. The price of a one-year European call option on the stock with a strike price of $48 is $6 and the price of a one-year European put option on the stock with a strike price of $32 is $8 . Suppose that a trader buys 100 shares, shorts 200 call options, and buys 200 put options.

Show the traders Payoff, Initial Cash Flow, and Profits by setting up and completing a relevant table for all possible stock price ranges.

Compute all possible Break even points for the investors portfolio.