Put and Call Payoffs Suppose a fi nancial manager buys call options on 50,000 barrels of oil with an exercise price of $35 per barrel. She simultaneously sells a put option on 50,000 barrels of oil with the same exercise price of $35 per barrel. Consider her gains and losses if oil prices are $30, $32, $35, $38, and $40. What do you notice about the payoff profi le? LO.1