Consider the following trading strategy: = -(ST S0) + [Max(0, ST-X) C]

Part A. Explain what this strategy is; be specific about the long/short position.

Part B. Set up a table and determine the profit/loss under different money scenarios at expiration (must be in algebraic, non-numerical form).

Part C. Graph the results of these payoffs without using actual numbers. What is the purpose of constructing such strategy?