Let $S=$$$65,K=$$$70,r=3\%($continuously compounded$),T=0\mathrm{.}25,=0.$ Let $u=1\mathrm{.}25,d=0\mathrm{.}8,$ and $n=1.$ Suppose you observe that the price of a European put option is $$10\mathrm{.}67.$ In this situation, an arbitrageur would simultaneously...

$$ buy the put, buy $0\mathrm{.}6154$ shares of the stock, and borrow $$49\mathrm{.}6264.$

buy the put, sell $0\mathrm{.}6154$ shares of the stock, and lend $$49\mathrm{.}6264.$

sell the put, sell $0\mathrm{.}6154$ shares of the stock, and lend $$49\mathrm{.}6264.$

sell the put, buy $0\mathrm{.}6154$ shares of the stock, and borrow $$49\mathrm{.}6264.$