(Options referred to in this question are on the same stock and have the same strike price and same maturity.)

Buying a put on an underlying stock and selling a call produces the same result as:

Buying a call and selling a put

Borrowing the Present value (PV) of the exercise price at the risk free rate (RFR) and buying a share

Lending the PV of the exercise price at the RFR and selling a share

Lending the PV of the exercise price at the RFR and buying a share

Borrowing the PV of the exercise price at the RFR and selling a share