Please explain the answer or steps. Thank you.

10. The common stock of the Avalon Corporation has been trading in a narrow range around $45 per share for months (specifically, between $40 and $47), and you believe it is going to stay in that range for the next 3 months. The price of a 3-month put option with an exercise price of $45 is S3, and a call with the same expiration date and exercise price sells for $4. What would be a simple options strategy using a put and a call to exploit your conviction about the stock price's future movement? A) sell a call B) purchase a put D) buy a straddle (Ans: Refer the slides for straddle. Slide 17, Ch 15&16. A straddle needs to pay only when there is a large move in the market)