A portfolio manager oversees a variety of financial derivatives based on TUV stock, which does not pay dividends. The portfolio includes the following:

• 5,000 deep in-the-money call options on TUV
• 20,000 deep out-of-the-money call options on TUV
• 10,000 forward contracts on TUV

Currently, the market price of TUV stock stands at USD 52. It is important to note that there are 252 trading days in a calendar year, and TUV exhibits an annual volatility rate of 12%. Each option and forward contract in the portfolio corresponds to one share of TUV.