You want to use an investment strategy by buying a call option and a put option.

Buy a call option with an exercise price of $15.4 for a premium of $0.4. Buy a put option with an exercise price of $15.4 for a premium of $0.4.

1. What is this type of strategy?

2. at a price of $ 15.4, what would be a profit from the strategy? 3. the strategy would be profitable when the price of the underlying currency is expected to?