A Collar with a Net Outlay of Approximately Zero Is

Multiple Choice

A collar with a net outlay of approximately zero is an options strategy that

A) combines a put and a call to lock in a price range for a security.
B) uses the gains from sale of a call to purchase a put.
C) uses the gains from sale of a put to purchase a call.
D) combines a put and a call to lock in a price range for a security and uses the gains from sale of a call to purchase a put.
E) combines a put and a call to lock in a price range for a security and uses the gains from sale of a put to purchase a call.