7. A call option with a strike price of $100 costs $5. A put option with a strike price of $85 costs $4. a. Explain how a strangle can be created from these two options. b. What is the cost of this strategy? c. When should I exercise my options? d. For what range of future stock prices would the strategy lead to a gain and what is the maximum gain you can receive? Prove your answer by providing an example. e. For what range of future stock prices would the strategy lead to a loss and what is the maximum loss you could sustain? Prove it by giving an example.