5) To hedge, a user of an energy resource wants price protection from rising prices. The user decides to buy a call option to protect against rising prices. But they want a lower cost of hedging and decide to construct a collar strategy. What other action should they take along with the purchase of the call option?

a) Buy a call option

b) Sell a call option

c) Buy a put option

d) Sell a put option

e) None of the above