Using the attached spreadsheet $($Binomial model Option Valuation$)$ value the option you did with BS using the binomial model methodology.$$

Modify the tree in the spreadsheet so that it will value put options and not call options $($Hint: You need to change just the final step modifying the payoff$)$

Using the binomial model calculate the hedge ratio for the put option.$$

Is the value you observe is close to the theoretical value you obtain with Black Scholes?$$

Create the tree.