Question $1$: Assume today is $\frac{3}{31}\frac{?}{2025}.$ You believe the upcoming tariff on $\frac{4}{2}$ will make a huge impact on the USD and JPY in the coming weeks. Currently, one$-$month call options on Japanese yen $()$ are available with a strike price of $\frac{150}{\text{\$}}$ and a premium of $$\mathrm{.}0005$ per JPY$.$ The call option is at$-$the$-$money. One$-$month out$-$the$-$money put options on Japanese yen are available with a strike price of $\frac{145}{\text{\$}}$ and a premium of $$\mathrm{.}0006$per JPY$.$ One option contract on Japanese yen contains $6\mathrm{.}25$ million yen. Q$1$a$,$ If you are a currency speculator, how you could utilize these options to speculate on the movement of the Japanese yen? Please provide your reasons and expectation from the speculator. $(20$ points$)$