URGENT ANSWERS for the Following three-question!!

(1) We buy common shares for $20 a share. To protect our position, we may invest in options. We may buy (or sell) put options at a $1 premium for an exercise price of $22 with an expiration of six months. We also may invest in call options, which cost 1.5 with the same expiration date. What is prudent to do if we predict the stock market will crash?

(2) We buy stock as above with the same data given and describe the best policy to undertake if we expect a substantial market increase.

(3) We want to compute the ROE of Chary. It has $20 m of the book value of equity and $80m of debt. Chary expects to sell $20m worth of sales, have EAT of $5m, and keep 40% of its profit. Furthermore, it has $100m of assets. Its coe is .12, and its beta is 1.2. Calculate Charys ROE. Evaluate ROE as a performance measure.