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This strategy is called a Strap; Buy one call with x = $ 5 0 and buy 1 put with x = $ 5 0

This strategy is called a "Strap"; Buy one call with x=$50 and buy 1 put with x=$50.
I. If S=$60, the sum of the intrinsic values is $10
II. Regardless of the value of S, the minimum sum of intrinsic values is $0
III. If the call is "in the money" the put is "out of the money".
A. I and III
B. I, II, and III
C. III-only
D. II only
E. II and III
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