If the forward price is $22 and the underlying asset price at expiration is $21.25, what is the long position's payoff? 7) the short position earns a profit when: 8) the short position breakeven point is: 9) consider the following example: sp = $75, ua = $95, and c 0 = $18. in this case, what is the long call’s p& l? 10) consider a call option with a strike price of $50 and premium of $6. at what underlying asset price does the long call position breakeven? 11) consider a portfolio consisting of five long forwards with forward price of $40 and twelve long calls with strike price of $22 and premium of $4. the underlying asset price is $35 at expiration. what is the portfolio's profit? 12) if the strike price is $50, the premium is $5, and the underlying asset price is $35 what is the long put’s payoff? 13) what’s an option? 14) what a call option? 15) what’s a put option? 16) what’s a forward contract? 17) what is the long and short position?