For each of the following three types of options:(a) Lookback options(b) Barrier options(c) Compound optionswrite a brief one-page (500 words) covering the following:o Explain each option along with...

For each of the following three types of options:(a) Lookback options(b) Barrier options(c) Compound optionswrite a brief one-page (500 words) covering the following:o Explain each option along with its variations (i.e. sub-types e.g. up-and-out, fixed vs float, etc.). Be sure to list the valuation/pricing equation for each type.o Give a real-world use case for when the option has been used to hedge against what type of risk. Or describe a potential profiting strategy for each of the options.