The price of a futures contract is currently $50 and will move either up or down by 10% at the end of one month. The risk free interest rate is 10%.
(1) What is the price of a European call option on the futures contract with a strike price of $52 that expires in one month?
(2) What is the price of a European put option on the futures contract with a strike price of $52 that expires in one month?