A collar with a net outlay of approximately zero is an options strategy that

A. combines a put and a call to lock in a price range for a security.

B. uses the gains from sale of a call to purchase a put.

C. uses the gains from sale of a put to purchase a call.

D. combines a put and a call to lock in a price range for a security and uses the gains from sale of a call to purchase a put.

E. combines a put and a call to lock in a price range for a security and uses the gains from sale of a put to purchase a call.