Question: This is the same first paragraph as the previous question: You are an options trader specializing in the Singapore dollar. The current spot rate is

This is the same first paragraph as the previous question: You are an options trader specializing in the Singapore dollar. The current spot rate is \$ \\$ 0.62 / \\mathrm{S} \\$ \$. A put option on the Singapore dollar that expires in 90 days with a strike price of \$ \\$ 0.64 / \\mathrm{S} \\$ \$ sells for a premium of \$ \\$ 0.00009 / S \\$ \$, while a call option on the Singapore dollar that expires in 90 days with the same strike price sells for a premium of \$ \\$ 0,00041 / \\mathrm{S} \\$ \$. Now assume that the spot rate is \$ \\$ 0.67 / \\mathrm{S} \\$ \$, but you now believe it will go to \$ \\$ 0.61 / \\mathrm{S} \\$ \$. You would like to buy \$ 1,000,000 \$ options with a strike price of \$ \\$ 0.64 / \\mathrm{S} \\$ \$. Based on that belief, determine whether you would buy calls or puts, and then calculate how much money you make or lose if the spot rate goes to \$ \\$ 0.62 / \\$ \\$ \$

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