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After completing learning activities answer the following questions in complete sentences. 1. You expect that the stock price of Kappa is expected to go up substantially. How to take advantage of this situation using a call option? How to do the same with only a put option? (see textbook section 14-1). 2. Assume that you consider selling a call option on a stock that you already have in your portfolio. What is the name of this strategy? Explain the upside and downside of this position? (see textbook section 14-4a). 3. Assume you are looking at a call option on Bristol Cities Inc. with an exercise price of $104. The current stock price today is $102 and the option has a premium of $3. What will be the profit or loss earned by the speculator at prices of $101,$105, and $113 just before the time of expiry? Assume the option will not be exercised until maturity