Consider the following options portfolio. You write a 1-year expiration call option on stock A with exercise price $195 selling for $5. You write a 1-year put option on stock A with exercise price $185 selling for $3.

(a) Construct the payoff table for this strategy.

(b) Draw the payoff diagram for this strategy as a function of the stock price at expiration. You need to mark some key points on the x-axis and y-axis.

(c) At what two stock prices will you just break even on your investment?