A payoff structure resembling that of a long futures position can be created by:

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A payoff structure resembling that of a long futures position can be created by buying a call option and selling a put option, with the same exercise price and premium for both options. This strategy is also known as a synthetic long futures position. When the price of the underlying asset increases, the call option gains value, while the put option loses value. Overall, the payoff is similar to that of a long futures position, where profits increase as the price of the underlying asset rises.

A Payoff Structure Resembling That of a Long Futures Position