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You establish a collar in which one stock is purchased at a current price of $100, one put is bought at an exercise price of

You establish a collar in which one stock is purchased at a current price of $100, one put is bought at an exercise price of $90, and one call with identical expiration date, but an exercise price $110, is written. Write down the payoff to this collar as a function of the stock price at expiration (ST) by filling out the following table.

ST<= $90 $90 ST> $110
Put
-Call
Stock
Total

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