An investor purchases a stock for $38 and a put for $0.50 with a strike price of $35. The investor sells a call for $0.50 with a strike price of $40. Complete the following table and determine the maximum profit and loss for this position? Draw the profit and loss diagram for this strategy as a function of the stock price at expiration.

Position	Today(0)	ST<35	35ST40	40T
Buy 1 share
Write 1 call(X=$40)
Long 1 put(X=$35)
Total payoff
Total profit/loss	--