I don't understand what this assignment is asking for. Can you please help clarify and provide the appropriate formula for calculations?

Voicemail from Bob: "I need to decide the best course of action for the use of the stock option contracts such as long calls and long puts. The stock is currently trading at $37."

In order to make the decision on the best course of action, two tables of calculations are needed:

One table for calculations on:

a. The possible outcomes of buying a call option for $2.10, exercise price $37.50

b. Possible price ranges for the underlying stock: 25 30 35 40 45 50 55 60

A second table for calculations on:

a. The possible outcomes of buying a put option for $1.65, exercise price $37.50

b. Possible price ranges for the underlying stock: 25 30 35 40 45 50 55 60

Deliverables:

A worksheet showing your calculations of the outcomes for the suggested stock price ranges for the call option buying strategy;

A worksheet showing your calculations of the outcomes for the suggested stock price ranges for the put option buying strategy