I am currently working on a strategy with weekly options where I usually enter the trade on Monday and exit on expiration Friday. Now assuming the underlying price is 60.50 on Monday and on the expiration Friday the price is 62 we have the following scenarios: 1. bough2 ABC 61 call for 0.35 and2 ABC 60 put for 0.35 = 1.40, profit = 160 Assuming underlying price was at 60.90: 2. bough2 ABC 61 call for 0.10 and2 ABC 60 put for 0.60 = 1.40, profit = 160 Question 1. It seems like it doesn't matter how much I paid for the put or call as long as the entire investment is 0.80, in the end I will make the same profit? Now for the second scenario I could make the following trade instead: 3. bough4 ABC 61 call for 0.30 and 1ABC put for 0.30 = 1.50 profit = 150 Question 2: Is this called option ratio? Question 3: Are all the three trades pretty much the same assuming I am always waiting until Friday expiration? Thanks