1) Suppose you enter into a long 6-month forward position at a forward price of $ 30. What is the payoff in 6 months for prices of $ 20, $ 25,$ 30,$ 35,$ 40 ?
When price is $ 20, the payoff is $ ?
When price is $ 25, the payoff is $ ?
When price is $ 30, the payoff is $ ?
When price is $ 35, the payoff is $ ?
When price is $ 40, the payoff is $ ?

2) Suppose you buy a 6-month call option with a strike price of $ 30. What is the payoff in 6 months for prices of the underlying asset of $ 20, $ 25,$ 30,$ 35,$ 40 ?

When price is $ 20, the payoff is $ ?
When price is $ 25, the payoff is $ ?
When price is $ 30, the payoff is $ ?
When price is $ 35, the payoff is $ ?
When price is $ 40, the payoff is $ ?

3) Comparing the payoffs of parts a) and b), which contract should be more expensive (i.e. the long forward, or the long call? Enter 1, or 2, respectively.) ?