1- Create one example for each case: a) Speculation: Create a financial situation where using (at least) short-selling of European put option is preferable to holding a portoflio of long positions in the stock (assume a budget of $100, stock price today S(O)-20 and put option premium S10) Show a proper graph for this example b) Repeat a) with the objective of Hedging. Show a proper graph for this example 1- Create one example for each case: a) Speculation: Create a financial situation where using (at least) short-selling of European put option is preferable to holding a portoflio of long positions in the stock (assume a budget of $100, stock price today S(O)-20 and put option premium S10) Show a proper graph for this example b) Repeat a) with the objective of Hedging. Show a proper graph for this example