Traditional call and put options are traded on a portfolio basis to match investor expectations about the underlying asset. But identifying the appropriate portfolio can be complicated and having the portfolio payoff match your expectations can be imperfect, In this example, you will illustrate to a venture capitalist from whom you seek funding for a fintech options trading platform, how you can create and price exotic options designed to more accurately match investor expectations about the underlying asset. Assume the annual continuously compounded rate is 10%, the annual standard deviation of stock returns is 0.30 (i.e., 30%), and the Time-to-Maturity is 1 year. The current stock price is $100. What is the value of an option that pays $1 if the stock price at maturity falls within the range $50 to $150, and 0 otherwise. Use the Binomial Option Pricing Model for N (the number of periods) = 7. You will upload an excel spread showing your calculations.