Three different finance majors have differing opinions about TSLA stock, which currently trades at $700/share. Student 1 is very bullish and decides to purchase shares of TSLA on margin. Student 2 feels the opposite and uses margin to sell short the same number of shares of TSLA. Student 3 isn't sure but feels like TSLA will be volatile over the next year and buys an ATM straddle. One year from today, TSLA trades at exactly $700/share. Which students if any will see a negative ROI on their investment strategy, under normal assumptions of transaction costs?

a) Student 1

b) Students 1 & 3

c) None of the students

d) Student 2

e) Students 2 & 3

f) All 3 students

g) Students 1 & 2

h) Student 3