HDFC is trading at 2071 on spot, calculate the future price for near month if MIBOR rate is 6.5%. Trader sold 1 lot of HDFC future & hedged his position by buying 2060 ITM call at Rs 30/-. If 1 lot= 500, calculate profit and loss if at expiry HDFC closed at

1. 1973
2. 2020
3. 2145
4. 2060

Also state the strategy applied by the trader and draw the diagram of the strategy used highlighting the BEP.