estion $2($Mandatory$)(7\mathrm{.}5$ points$)$

Assume zero rates and no dividends. TSLA stock price is traded at $$450,$ and $1-$year ISLA call at $K=400$ is traded at $$48.$ There is an arbitrage and you can lock in an arbitrage profit by A $1$ call $(""$buy$""$ or $""$sell$"")$ and A$.1$ forward $(""$buy$""$ or $""$sell$"")$ both at $K=400$ and $1-$

year expiry on TSLA. The trade will lock you in an arbitrage profit of A dollars, and also leave you with a non$-$negative payoff $1$ year later. $($Assume each buy$/$sell is for $1$ share. Write profit in integer$)"$

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