You would Ske to hold a protective put position on the stock of Avaion Corporation to lock in a guarenteed minimum value of $50 at year end Avaion cure stock price will increase by 10% or decrease by 10% The Tbl ate is 5%, ntly sells for $50 Over the neet year, the Unfortunately, no put options re raded on Ava on Co. What portfolio position in stock and T-bill will ensure you a payoff equal to the payot that would be provided by a protective pu with X-$80 O 1 share of stock and $25 in bils O 1share of stock and $50 in bilis O share of stock and $26 19m O share of stock and $25