Imagine that you are holding 5.600 shares of stock currently selling at $55 per shate. You are ready to sell the shares but would prefer to put off the sale until next year due to tax reasons. If you continue to hold the shares until January, however, you face the risk that the stock will drop in value before year end you decide to use a collar to limit downside risk without laying out a good deal of additional funds. January cal options with a strike price of $60 are selling at $3 and January puts with a strike price of $50 are selling at $4 What will be the value of your portfolio in January (net of the proceeds from the options if the stock price ends up at $45. $55, $65? What will the value of your portfolio be if you simply continued to hold the shares? Stock Price 556 345 Portfolio Value cola: used if you continued to hold the shares SG6