Please answer all points in excel if possible.

You are Dr$.$ Shetty's investment advisor. He has given you $$10$ million to invest in a portfolio of Stock $x$

and some over$-$the$-$counter European options $($both call and put$)$ on Stock X$.$ These options in the same

portfolio can be a good hedge. Currently Stock $x$ is trading at $$200$ per share. Before you decide on an

investment strategy, you wanted to know what the future holds for Stock X$.$ Therefore, you ask one of Dr$.$

Shetty's star MBA student, Jordan Work, to project the various economic states, probability of each state,

and the stock price under each scenario using extensive historical data and opinion of several experts. For

example, State $1$ could be deep recession and State $2$ mild recession, etc. His finding is below:

Performance of Stock $x$ under various states:

Options $($European$)$ on Stock X:

a$.$ After examining the option prices, you suspect a good strategy might be to buy one put and one call

option for each share of the stock purchased. What are the mean and standard deviation of returns for

a portfolio consisting of shares of Stock X and Put Option A$,$ and Call Option B$?($Each one share$)$

b$.$ Assuming Dr$.$ Shetty wishes to create a portfolio consisting of Stock $x$ and the three options $($A$,$ B$,$

and $C).$ If his goal is to minimize the standard deviation of the portfolio return, what is the optimal

portfolio $($how much in $ invested in each asset?$)$ All $10$ million is invested. Assume fractional

numbers of stock shares and options can be purchased. Also, assume the number of options purchased

need not equal the number of shares of the stock purchased. How many shares of Stock X and how

many of each option does this portfolio correspond to$?$

c$.$ Suppose the short selling is permitted $-$ that is$,$ variables can take negative values. Now solve for

least risky $($minimum standard deviation of return$)$ portfolio.

may want to do second tab

may have $(-)$ options, check integer box