23. suppose an american put is trading for $16.50 and an american call is trading for $15, where both options have identical terms. the underlying stock price is $99, and the exercise price is $100. the annual risk-free interest rate is 5 percent, and the time to expiration for both options is one year. assuming that the stock pays no chapter 3 principles of option pricing 105 dividends, identify the appropriate arbitrage trading strategy.
