An investor purchases a stock for $41 and a put for $0.55 with a strike price of $37. The investor sells a call for $0.55 with a strike price of $45. What is the maximum and Minimum payoff for this position? (Loss amount should be indicated by a minus sign.)

Maximum payoff	$
Minimum Payoff	$
What is the payoff if the stock price at maturity is $37.4	$

An investor purchases a stock for $35 and a put for $0.55 with a strike price of $32. The investor sells a call for $0.55 with a strike price of $38. What is the maximum and Minimum payoff for this position? (Loss amount should be indicated by a minus sign.)

Maximum payoff	$
Minimum Payoff	$
What is the payoff if the stock price at maturity is $36.5	$