4) Strangle: In a strangle, the investor is long a put with a lower strike and long a call with a higher strike. You are given the following inputs: Call Premium Put $1.00 $50.00 $1.25 $54.00 On the same graph, show the payoff and the net profit for the strangle (you don't have to graph payoffs and net profits for the individual options). How is the strangle different from the straddle we looked at in class? Why might you put on this position instead of a straddle? a