You want to enter into a collar strategy for a stock which you paid $25 to acquire. You find that you have to pay $0.195 per share to enter into a put with a strike price of $22. 

 

What call options (strike) should you enter in order to be in a (near) zero cost collar position (to pair with the  put)?

Strike Price Bid Ask $26 $1.10 $1.18 $27 $1.00 $1.06 $0.94 $1.00 $0.90 $0.95 $28 $29