Your client just wrote a DEC 40 PUT and wrote a MAR 50 CALL on the same stock, at the same time. Your client has

Explanations

Combination. When an investor buys or sells a call and a put on the same stock with different expiration dates and/or strike prices, it is a combination. A Straddle has the same strike and month, Buying Debit Spread, and Buying a Vertical spread are incorrect. The trader sold (wrote) the options