You own both puts and calls for FrisbeesAreUs, Inc. The calls have a strike price of $90 and the puts have a strike price of $85. The stock itself is selling for $88. You paid $4 for the call and $5 for the put. Sketch a graph of your profi ts and losses as a function of the stock price and indicate where you ’ d exercise the put, the call, both, or neither.