options markets

Project Description:

this project has two questions. both need to be answered in a minimum of 50 words. for reference the book used for this class is essentials of investments by brody, cane and marcus 9th edition current chapters are 15, 16 and 17 that these questions are based on.
1. provide an example of a situation in which it might be wise for a market participant to sell or buy a particular kind of option.
2. explain a few of the benefits and drawbacks to using options in the management of an investment portfolio.

i just need the questions answered and either cites from the book or the internet that can be verified are helpful. does not need to be written up formally. time line: with in 36 hours after being hired please.
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