Options and futures are often represented on diagrams where the underlying asset price is on the x-axis and either ‘profit’ or ‘payoff at maturity’ are on the y-axis. Which of the following statements is NOT correct? Ignore any initial margin cash flows. To make a ‘profit’ diagram, shift the ‘payoff at maturity’ diagram on a:

a) Long call option down by the option price.

b) Short call option down by the option price.

c) Long put option down by the option price.

d) Short put option up by the option price.

e) Long futures contract up by nothing, the graphs are the same.