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Macy's stock is currently trading for $25.65 per share. You think that with this new...

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Macy's stock is currently trading for $25.65 per share. You think that with this new strain of Covid Macy's may see shopping in stores decrease again so you are interested in a put. Create a binomial model to find the price of a put on Macy's stock. Make the time steps be 10 days. Make 4 times steps counting today. So today, ten days out, twenty days out and thirty days out. Show the price of the stock and the price of the option at every step. Identify which pieces of your tree are stock prices and which are the option prices. The volatility of Macy's stock is 65%. Use a strike price of $24. The risk free rate is 1%

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