What is the concept of synthetic long stock strategy in options trading?

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What is the concept of synthetic long stock strategy in options trading?

The concept of synthetic long stock strategy in options trading involves creating a position that mimics the characteristics of owning a long stock position. This strategy is achieved by combining a long call option and a short put option with the same strike price and expiration date. By doing so, the investor can benefit from the upside potential of owning the stock while limiting their downside risk. This strategy is often used when an investor is bullish on a stock but wants to reduce the initial capital outlay required for purchasing the stock outright.