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You own a stock at price S 0 , and buy put options on the stock at strike price X 1 , where X 1

You own a stock at price S0, and buy put options on the stock at strike price X1, where X1 < S0. Further, you write call options at strike price X2, where X2 > S0. You use FLEX options in the marketplace, choosing X2 such that its call premium C(X2) exactly equals the purchased put premium P(X1). This trading strategy is called a .

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combination bear-bull spread

short calendar spread

short strangle

zero cost collar

butterfly spread

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