You sell one Amazon call option and sell one Amazon put option. The exercise price is $120, the call premium is $2.50, and the put premium is $7.25. Your strategy will pay off only if the stock price is ____ at maturity.

a) Between $112.75 and $127.25 b) Between $117.50 and $127.25 c) Between $110.25 and $129.75 d) Either lower than $110.25 or higher than $129.75 e) None of the above