James Steiner is a portfolio manager with a client who has a 5,000-share position in Trident Industries, which is trading at $150 per share (position value $750,000 ). Trident shares have had a runup recently but the client does not want to sell and Steiner is concerned about a pullback. Steiner is considering ways to protect the position using either a protective put or a collar. It is currently January and following exchange-traded options on Trident are available: a. If Steiner creates a protective put with the March 140 put, what is the cost to protect the 5,000 share position and what is the maximum potential loss in dollars and as a percentage of the original position value? (1 point) b. If Steiner creates a collar with the March 140 put and the March 160 call, what is the cost to protect the 5000-share position? What is the maximum potential loss and the maximum potential gain in dollars and as a percentage of the original position value? ( 2 points) James Steiner is a portfolio manager with a client who has a 5,000-share position in Trident Industries, which is trading at $150 per share (position value $750,000 ). Trident shares have had a runup recently but the client does not want to sell and Steiner is concerned about a pullback. Steiner is considering ways to protect the position using either a protective put or a collar. It is currently January and following exchange-traded options on Trident are available: a. If Steiner creates a protective put with the March 140 put, what is the cost to protect the 5,000 share position and what is the maximum potential loss in dollars and as a percentage of the original position value? (1 point) b. If Steiner creates a collar with the March 140 put and the March 160 call, what is the cost to protect the 5000-share position? What is the maximum potential loss and the maximum potential gain in dollars and as a percentage of the original position value? ( 2 points)