I feel this images is a good example of "punctum" being "studium." The fatness of this lady and the contrast between her body and the small swimwear is "punctum," but she is the main subject of this photograph and so her body is also "studium" of the photograph too.
This is another photo of "punctum" being "studium." People's attention will be attracted all the vail the subjects are wearing and it is "punctum" and "studium" at the same time. However "punctum" and "studium" can be qutie subjective. So "punctum" to some people might be the flag on the top or the black object that one of the person in the photo is carrying.