Turn back to Figure 20.1, which lists prices of various IBM options. Use the data in the figure to calculate the payoff and the profits for investments in each of the following February expiration options, assuming that the stock price on the expiration date is $195.

a. Call option, X = $190.

b. Put option, X = $190.

c. Call option, X = $195.

d. Put option, X = $195.

e. Call option, X = $200.

f. Put option, X = $200.

Figure 20.1 Stodk options on IBM closing prices as of January 18,2013 Source The Wall Street Joumal On line, January 18, 2013