You are given the following information about a European Options Portfolio, all are for the same underlying security and have the same expiration date. Assume that there is only 1 unit of the underlying security per option contract. Assume that the final stock price at maturity is $ 22. Position Strike Price ($) Option Premium ($)

A. 10 Long Calls 20 1.5

B. 5 Short Calls 15 4.0

C. 10 Long Puts 15 0.7

D. 7 Short Puts 20 3.0

a) Compute the payoffs for A, B, C, D and the total portfolio payoff. b) Compute the profit for A, B, C, D and the total portfolio profit. c) Compute the first and second break even points. Please show all work.