1. You are an owner of gold - 200oz. (100 oz/contract) at 1980 - the current market price Based on the following option prices for the next contract month: and that your expectation is that you are bullish on gold, but expect some Volatility. Lay out the mechanism for each of the following structures and recommend which ones are appropriate to fit into your expectations and why discuss volatility and direction in each strategy if applicable. Show prices and strikes for each. a) straddle b) vertical spread c) strangle d) butterfly spread e) collar f) condor