1. Imagine the following options contracts.

underlying price at expiration	$2,200
	Profit	?
	Cost	?
	Return	?

There are call and put options available on an underlying with strike prices of 1,950 and 2,050. The shaded values above are the option premiums as of today. The options expire in 1 year.

Suppose you buy the 1,950 call and sell the 2,050 call. Simultaneously, you buy the 2,050 put and sell the 1,950 put."

1. Calculate profit on this strategy for a range of underlying prices at expiration from 200 to 3,000.

2. Why is the profit so incredibly low?