Use the data in the figure to calculate the payoff and the


Refer to Figure 15.1, which lists the prices of various IBM options. Use the data in the figure to calculate the payoff and the profit/loss for investments in each of the following January 2012 expiration options,assuming that the stock price on the expiration date is $165.

a. Call option, X = 160

b. Put option X = 160

c. Call option, X = 165

d. Put option, X = 165

e. Call Option, X = 170

f. Put Option, X = 170

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Risk Management: Use the data in the figure to calculate the payoff and the
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