Please solve this question fully. please see test 3 attachment

Clipboard G20 1 z. Married Puts Font Alignment Number Formatting as Table Styles Styles 2 9 5 You own 100 shares of XYZ stock selling at $100. A put option currently costs $4. Please explain and calculate what your payoff/loss would be at the share prices below for using a protective put strategy. Hypothetical Share Prices 100 110 Why would you use a protective (married) put strategy? Please answer in no more than 3 sentences 12 Covered Calls B Youare a pension fund manager, and you are VERY confident that XYZ stock will go up from $100, but you're not quite certain on how high. 14 1 You would be willing to sell at $110. 16:iA two-month call option with an exercise price of $110 currently sells for $5. L8 i Your pension fund has 1000 shares of XYZ stock. Please explain and calculate what your payoff/loss would be at the share prices below for red call strategy. Hypothetical Share Prices 115 110 105 'Why would you use a covered call? Please answer in no more than 3 sentences. pueure of Cliften_, Married Puts and Covered calls ,lnternational stock Read}