even if there is a $+$ sign before the blank $($Example: $-300).$ If you answer is zero, enter $"0".$

$\begin{array}{cc}\text{S}\text{h}\text{a}\text{r}\text{e}\text{P}\text{r}\text{i}\text{c}\text{e}& \text{B}\text{e}\text{n}\text{e}\text{f}\text{i}\text{t}of\text{O}\text{p}\text{t}\text{i}\text{o}\text{n}\text{s}\\ \text{\$}20& \text{\$}\\ \text{\$}21& \text{\$}\\ \text{\$}22& \text{\$}\\ \text{\$}23& \text{\$}\\ \text{\$}24& \text{\$}\\ \text{\$}25& \text{\$}\\ \text{\$}26& \text{\$}\\ \text{\$}27& \text{\$}\\ \text{\$}28& \text{\$}\\ \text{\$}29& \text{\$}\end{array}$

$($b$)$ Discuss the value of the portfolio with and without the European put options.

Hint$($s$)$ Check My Work