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3. Suppose you are an investor who is currently holding 1000 shares of IBM. The shares of IBM shares are currently trading at $138.25. You fear of growing volatility of IBM share prices and want to bedge against falling share prices till August 2021. Option A: X=$137 @$0.5 Option B: X=$740@$1.5 Option C: X=$742@$3.0 a) Explain how would you use the put options (given above) on stocks to bedge yourself from the risk? Identify the number of options contracts to be bought, the options premium, and expiration months. b) Which is the best choice if the option expires at a Market Value of $125. Calculate the gain or loss c) Show through diagrams how the option contract you select will move using the values given above. Make 3. Suppose you are an investor who is currently holding 1000 shares of IBM. The shares of IBM shares are currently trading at $138.25. You fear of growing volatility of IBM share prices and want to bedge against falling share prices till August 2021. Option A: X=$137 @$0.5 Option B: X=$740@$1.5 Option C: X=$742@$3.0 a) Explain how would you use the put options (given above) on stocks to bedge yourself from the risk? Identify the number of options contracts to be bought, the options premium, and expiration months. b) Which is the best choice if the option expires at a Market Value of $125. Calculate the gain or loss c) Show through diagrams how the option contract you select will move using the values given above. Make