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5. A put option with a strike price of $60 is selling for $5. A call option at the same strike price and with

5. A put option with a strike price of $60 is selling for $5. A call option at the same strike price and with the same expiration is selling for $4. You purchase a straddle position. a. What are the break-even prices for the straddle? b. What is your payoff and profit if the stock price is $67 at expiration? C. What is your payoff and profit if the stock price is $48 at expiration?

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