Physical settlement

A stock option has lot size 500 (illustrative). At expiry the stock settles at ₹1,500. (a) A trader is long one lot of the 1,480 call, bought for ₹5. State the obligation and the cash required on settlement, and the intrinsic value of the position. (b) Another trader is short one lot of the 1,520 put, sold for ₹8. State the obligation, the cash required, and the net P&L including the premium (ignore costs). (c) What would have happened to each if the stock had settled at ₹1,479?