Colleen has been trying to figure out what to do with her investment portfolio. A vertical spread with not an excessive amount of risk might involve

		buying a call at a lower strike price and writing a call at a higher strike price.
		buying a put at a lower strike price and a call at a higher strike price.
		buying a call and a put on the same stock with the same strike price.
		buying a call at a lower strike price and writing a put at a higher price.