Which of the following statements is true? 1. The current stock price is $71, and you create a protective put with a strike price of $66. If the put premium is $3.00, the maximum loss that you can incur is $8.00. ii. One of the reasons for the collar strategy is to reduce the premium on a protective put. O a. i only O b. ii only O c. i and il are both false O d. i and ii are both true