DIRECTIONS: Here is the Unit #5 Weekly Writing Assignment that you should submit to your Unit #5 Homework Assignment Folder.Please submit your Unit #5 Writing Assignment in MS Word format with the following file name: LastNameFirstInitial_Unit 05_Writing Assignment.docx. For example, if you name is John Smith, the file name should be SmithJ_Unit05_Writing Assignment.docx.If you have any questions or comments, please do not hesitate to contact me.NAME: _____________________________________Evan Williamson is sharing his ideas about investing with you. Evan believes that the markets are riggged, complex, and no one truly understands tham. From 2000 to 2002 , he lost a lot of money but made some of it back a few years later. From 2006 to 2008, he lost money again and decided to stop investing for a period of time. He just couldn’t toelrate the ups and downs of the market. Evan is now invested in stocks but is still fustrated because he missed most of the bull market. Additionally, he thinks stocks may be priced too high and interested rates may be too low. Clearly, the “buy and hold” strategy is not working for Evan.After listening to Evan, you suggest that depending on Evan’s risk tolerance, he might consider broadening his investment horizons by adding options to his portfolio. If Evan has a stock or ETF that he wants to protect for a certain amount of time, options can be one way to achieve that.For example, Evan may have a position that he wants to sell, but doesn’t want to liquidate in the current calendar year for tax reasons. Selling it next year would be better for Evan but he is afraid of the stock losing value.You decide to demonstrate to Evan how diversifying with options can assist him in broadening his investment horizons. Complete the following table by stating if the investor should buy or sell puts or calls to match the investor’s objectives:Option Strategy ReviewIf the Investor is:They Should:BullishBearishLong stock wants protectionLong stock wants incomeShort stock and wants protectionExpecting volatilityExpecting stabilityMildly bullish wants limited risk, limited gainMildly bearish, wants limtied risk, limited gainIn your next discussion with Evan you describing the benefits of options by explaining how options allow investors to take long or short positions on the underlying assets without actually acquiring them.Recently, someone mentioned currency and interest rate options to Evan. Evan wants you to explain how stock, currency and interst rate options can establish hedge positions that reduce the risk of loss from price flucuations.