Suppose you invest in the S&R index for $1000, buy a 950-strike put, and sell a 1050- strike call. Draw a profit diagram for this position. What is the net option premium? If you wanted to construct a...

Suppose you invest in the S&R index for $1000, buy a 950-strike put, and sell a 1050- strike call. Draw a profit diagram for this position. What is the net option premium? If you wanted to construct a zero-cost collar keeping the put strike equal to $950, in what direction would you have to change the call strike?