Suppose that Mr. Colleoni borrows the present value of $100, buys a sixmonth put option on stock Y with an exercise price of $150, and sells a six-month put option on Y with an exercise price of $50.

Suggest two other combinations of loans, options, and the underlying stock that would give Mr. Colleoni the same payoffs.

My questions: Could you please explain how you find these two other combinations? Is this derivable from the put-call parity?

Note for the helper: spot prices are not provided