Put-Call Parity \& Synthetic Positions Example: Consider a put and a call option on a stock, with a strike price of $30 and expiration in 3 months. The price of the call is $3, the risk-free interest rate is 10% (annual), and the underlying stock price is $31. - Assuming put-call parity holds, what is the price of the put? If the actual put price is $1, design an arbitrage strategy with the put and a synthetic put. If the actual put price is $2, design an arbitrage strategy with the put and a synthetic put