For all call and put options, answer questions based on per share price, per share premium, and etc.

Please be aware that the first question is asking from the buyer of the call options point of view and the second question is asking from the seller of the put options point of view. Answering the questions from the wrong perspective will not be granted most of credits.

Q1: The market price for Waste Management, Inc. (Ticker: WM) was $156.27 when Mary sold a put option today. The put premium is $4.70 and the exercise price is $145. The option will be expired on Jan. 20, 2023. (10 points)

a. Draw the contingency graph for Mary. Label x axis, y axis, each point/interaction on the graph.

b. What is the break-even point for Mary?

c. What are Marys maximum profit and maximum loss?

d. Show the profit/loss for Mary if, at the expiration date, the WM price is (1) $95, (2) $142, and (3) $210