One popular combination is the strip, which involves buying a call and two puts with the same expiration date and strike prices. A three month call with strike of $60 costs $4. A three month put with the same strike price costs $3. Do you have to pay to initiate the sale of a strip involving the above two options? For what range of stock prices at expiration would a short position in the strip above lead to a loss? For what range of stock prices at expiration would the strategy lead to a profit? When is this strategy going to break even? If you are a speculator, under what expectations are you going to employ such strategy?