$(3$ pts$)$ Consider a Jan $2024$ Call option contract on AA Co$.$ with an exercise price of $$140$ and a premium of $$4\mathrm{.}10$ per share.

a$.$ If on the third Friday of Jan $($the expiration date$)$ the price of AA is as follows, fill in the chart below as is relates to the buyer of the contract.

Price in Jan

Value of Option Contract

Profit$/$Loss for Buyer

$$132$

$$141$

$$148$

$(3$ pts$)$ Consider a Jan $2024$ Put option contract on CC Co$.$ with an exercise price of $$65$ and a premium of $$3\mathrm{.}10$ per share.

a$.$ If on the third Friday of Jan the price of $CC$ is as follows, fill in the chart below as is relates to the buyer of the contract.

Price in Jan

Value of Option Contract

Profit$/$Loss for Buyer

$$57$

$$63$

$$69$

$(4$ pts$)$ Alan just bought $100$ shares of Global, Inc. $($GLO$)$ at $$226$ per share and as protection he also bought a three$-$month put contract with a $$220$ strike price at a total cost of $$270($ $$2\mathrm{.}70$ per share$).$ IF GLO stock unexpectedly declines to $$150$ in three months and Alan sells his shares, calculate the total profit or loss and explain how the hedge has provided protection for Alan's position in GLO. Ignore transaction costs.

Total profit or Loss $=$

Explain how hedge provided protection: