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You are managing a portfolio of call and put options written on the Australian dollar. You have the following positions maturing at the end of

You are managing a portfolio of call and put options written on the Australian dollar. You have the following positions maturing at the end of the year. Type Strike Quantity (000) Call 0.98 600 Call 1.01 500 Call 1.02 1000 Put 0.99 200 Put 1.03 1000 Put 1.04 100 If the Australian dollar ends the year at $NZ1.03, what will the payoff be for your maturing options (assuming none are exercised before then)

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