Problem 20.1 Use the data on your chosen underlying asset above. a) Graph the implied volatility as a function of strike price for short maturity (less than 4 months) and long maturity options (maturity greater than one year). b) Comment on the implied volatility function for each maturity. c) Describe the implied volatility surface implied by the long and short options and give an explanation of the shape. d) Use the implied volatility of the at-the-money option to calculate the price of an out-of-the- money option. Is it different from the quoted price, if so, why? Problem 20.1 Use the data on your chosen underlying asset above. a) Graph the implied volatility as a function of strike price for short maturity (less than 4 months) and long maturity options (maturity greater than one year). b) Comment on the implied volatility function for each maturity. c) Describe the implied volatility surface implied by the long and short options and give an explanation of the shape. d) Use the implied volatility of the at-the-money option to calculate the price of an out-of-the- money option. Is it different from the quoted price, if so, why