Part I.

Below is the option chain for March $2025($European$)$ option contracts, where the underlying is

the US$($D$)/($A$)$UD future contract. Source.

The US$($D$)/($A$)$UD Spot rate today $((2)/(22)()/(2024))$ is $0\mathrm{.}64.$

Strategy $2$:

Consider a March SEAGULL SPREAD option strategy where the investor is long on the

$$0\mathrm{.}6350$ call, short on the $$0\mathrm{.}6475$ call, and short on the $$0\mathrm{.}6000$ put.

What is the return of the strategy at expiration if the US$($D$)/($A$)$UD Spot is $$0\mathrm{.}58,$$$0\mathrm{.}63,$

$$0\mathrm{.}64$ & $$0\mathrm{.}66?$

Graph the profits from the strategy $($price of the underlying in X$-$axis$).$

What is the maximum profit, the maximum loss and the break$-$even spot for

US$($D$)/($A$)$UD$?$

What is the initial investment needed to deploy the strategy.