Assume you are buying stock today in Exxon. You buy a share of stock at 90,

and a put option at 88 expiring in three months for 4.117 You sell a call option at

88 expiring in three months for 2.80. You hold your portfolio until the

expiration date. On the expiration date you cash out your portfolio. Graph the

profits of your strategy (that is, how much your portfolio is worth in three months

minus what you paid for it today) as the price of Exxon stock at the expiration

date goes from 70 to 110.