Suppose that on 2017-04-04 the closing price of MSFT was 65.00.

On that day, the price of the October 70 call was 1.65.

On that day, the price of the October 60 put was 2.21.

In 2017, the date of expiration of October stock options was October 20.

In each hypothetical case below, state whether the price of each option would be higher or lower than its price on 2017-04-04, and tell why. Assume other market statistics were relatively unchanged.

(a) Suppose that on 2017-05-04 the closing price of MSFT was 65.00,

(b) Suppose that on 2017-05-04 the closing price of MSFT was 71.00.

(c) Suppose that on 2017-05-04 the closing price of MSFT was 59.00.

(d) Suppose that on 2017-10-19 the closing price of MSFT was 65.00.

(e) Suppose that on 2017-10-19 the closing price of MSFT was 71.00.

(f) Suppose that on 2017-10-19 the closing price of MSFT was 61.00.