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You own 2 million shares of XYZ stock that is currently worth $34/share. You wish to hedge to establish a minimum value for the stock

You own 2 million shares of XYZ stock that is currently worth $34/share. You wish to hedge to establish a minimum value for the stock over the next two years of $60 million. Explain how you could set up such a hedge today using options with one of the strategies that we covered in Chapter 7, without having any initial cash expense for the option today. Be as specific as possible and make sure and include the name of this strategy and relevant strike prices, as you can. Assume that you can transact with call and put options of any desired strike price.

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