You shorted a call option on Intuit stock with a strike price of $$$$38.$ When you sold$($wrote$)$ the$$ option, you received $$$$3.$ The option will expire in exactly three$$ months' time.

a$.$ If the stock is trading at $$$$49$ in three$$ months, what will your payoff$$ be$?$ What will your profit$$ be$?$

b$.$ If the stock is trading at $$$$35$ in three$$ months, what will your payoff$$ be$?$ What will your profit$$ be$?$

c$.$ Draw a payoff diagram showing the payoff at expiration as a function of the stock price at expiration.

d$.$ Redo$$ c$,$ but instead of showing$$ payoffs, show profits.

Question content area bottom

Part $1$

a$.$ The payoff of the short is $$$

$$

enter your response here$,$ and the profit of the short is $$$

$$

enter your response here.