 5 % ( 5 % appreciering ) a ) korte positioner b ) lange positioner 4 . + 10 % ( 10 % depreciering ) a ) korte positioner b ) lange positioner 5 .
( b ) long positions ( i ) bought calls ( ii ) written puts PRO MEMORIA : in-the-money options ( 1 ) At current exchange rates ( a ) short position ( b ) long position ( 2 ) + 5 % ( depreciation of 5 %) ( a ) short position ( b ) long position ( 3 )  5 % ( appreciation of 5 %) ( a ) short position ( b ) long position ( 4 ) + 10 % ( depreciation of 10 %) ( a ) short position ( b ) long position 5 .