Assignment #4 OPTIONS(1)(1) Design Layout References Mailings Review View Help Tell me what you want to do 7) If you are long Gamma, what effect does the passing of time have on your position? Short Gamma? 8) Define intrinsic value & extrinsic value? 9) A producer of a commodity uses which, a call or a put to protect income? What is the synthetic option created by this hedge? 10) A consumer of a commodity uses which, a call or a put to protect income? What is the synthetic option created by this hedge