1. You buy a put with an exercise price of $75 for $5 and a call with an exercise price of $75 for $5, what is your profit or loss if the underlying stock at expiration is selling at $65?
a. -$5
b. $0
c. $5
d. $10
2. A writer sells a put with a strike price of $70 for $3, what is his profit or loss if the underlying stock at expiration is selling at $65?
a. -$5
b. -$3
c. -$2
d. $3