36. A "protective put" strategy will have a Profit/Loss diagram very similar to... a. A long call. b. A short call. c. A short put. d. A butterfly spread. e. An iron condor. 37. What positions/trades are involved in a "covered call"? 38. If you owned a stock position how would you construct a "collar" strategy with options? 39. A Calendar or Horizontal spread trade is put on by selling a short dated call and buying a longer dated call with the same strike price on the same asset. Explain the benefit and risk of the strategy. 40. American Put/Call Parity is stated as an inequality. Write it out. 41. What does the VIX index measure? 42. What is a volatility skew? 36. A "protective put" strategy will have a Profit/Loss diagram very similar to... a. A long call. b. A short call. c. A short put. d. A butterfly spread. e. An iron condor. 37. What positions/trades are involved in a "covered call"? 38. If you owned a stock position how would you construct a "collar" strategy with options? 39. A Calendar or Horizontal spread trade is put on by selling a short dated call and buying a longer dated call with the same strike price on the same asset. Explain the benefit and risk of the strategy. 40. American Put/Call Parity is stated as an inequality. Write it out. 41. What does the VIX index measure? 42. What is a volatility skew