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A slight variation of a straddle is a strap, which uses two calls and one put. Construct a long strap using the October 165 options.

A slight variation of a straddle is a strap, which uses two calls and one put. Construct a long strap using the October 165 options. Hold the position until' expiration. Determine the prots and graph the results. Identify the breakeven stock prices at expiration and the minimum prot. Compare the results with the October 165 straddle. (Using Excel preferably). Image couldn't be loaded, but can be found in this question:

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