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Describe the trading position (payoff) created in which a call option is sold with strike price K2 (take K2 = $60) and a put option

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Describe the trading position (payoff) created in which a call option is sold with strike price K2 (take K2 = $60) and a put option is bought with strike price K1 (take K1 = $40) when both have the same time to maturity. In general K2>K1. (a) What is the payoff position equation between $40 and $60? (b) What is the payoff equation for St> $60? (c) What is the payoff equation for ST

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