Suppose a financial manager buys call options on 64,000 barrels of oil with an exercise price of $111 per barrel. She simultaneously sells a put option on 64,000 barrels of oil with the same exercise price of $111 per barrel. Consider her gains and losses of oil prices are $89, $86, $94, $111, and $114. What if oil futures prices are $117.31 per barrel at expiration?

Market price	$89	$86	$94	$111	$114	$117.31
Payoffs per barrel	$	$	$	$	$	$