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1) You form a long straddle by buying a call with a premium of C = $8, and buying a put with a premium of P = $5. Both options have an exercise price of X = $63, both mature in 8 months, and both have the same underlying asset. Find the profit of this straddle when the price of the underlying asset is S = $9. Do NOT use the $ symbol in your answer; just write a numerical value. Of course, include the negative sign if the answer is negative; but do not include the positive sign if the answer is positive.

2) You form a collar by buying a put with an exercise price of X1 = $30 and a premium of P = $6, and selling a call with an exercise price of X2 = $107 and a premium of C = $4. Both options mature in 3 months, and both have the same underlying asset. In addition, you buy the underlying asset for its current spot price of S = $60. Find the profit of this collar at expiration if the ending price of the underlying asset is ST = $6. Do NOT use the $ symbol in your answer; just write a numerical value. Of course, include the negative sign if the answer is negative; but do not include the positive sign if the answer is positive.

3) You form a collar by buying a put with an exercise price of X1 = $28 and a premium of P = $4, and selling a call with an exercise price of X2 = $85 and a premium of C = $5. Both options mature in 5 months, and both have the same underlying asset. In addition, you buy the underlying asset for its current spot price of S = $61. Find the profit of this collar at expiration if the ending price of the underlying asset is ST = $52. Do NOT use the $ symbol in your answer; just write a numerical value. Of course, include the negative sign if the answer is negative; but do not include the positive sign if the answer is positive.

4) You form a collar by buying a put with an exercise price of X1 = $32 and a premium of P = $5, and selling a call with an exercise price of X2 = $99 and a premium of C = $4. Both options mature in 5 months, and both have the same underlying asset. In addition, you buy the underlying asset for its current spot price of S = $65. Find the profit of this collar at expiration if the ending price of the underlying asset is ST = $140. Do NOT use the $ symbol in your answer; just write a numerical value. Of course, include the negative sign if the answer is negative; but do not include the positive sign if the answer is positive.