The Parrot Transport Corp. stock was selling at $$30$ per share on the first day of this month.

$$If you had a call option on the first of the month with an exercise price of $$27$ and if the option also expires on the first, the value of the option would be $$3.$If the call option expires in six months, the value of the option is likely to be higher $$than the difference in the stock price and exercise price of the call option at expiration.

$$If you had a put option on the first of the month with an exercise price of $$27$ and if the option also expires on the first, the value of the option would be $.$If the put option expires in six months and the market expects the stock price to decrease, the value of the option is likely to $.$

Now suppose you have another call option and a put option. The selling price of Parrot$$s stock is $$30$ per share on the first day of this month and the exercise price for both the call and put options is $$36.$

$$If the exercise price of the call option is $$36$ and the option expires on the first, the value of the option is $.$If the call option expires in six months and the market expects the stock price to increase, the value of the call option is likely to $.$

$$If the exercise price of the put option is $$36$ and the option expires on the first, the value of the option is $.$If the put option expires in six months and the market expects the stock price to increase, the value of the put option is likely to $.$