A trader buys a 1 month Straddle (Options Strategy) by buying a Put with a $175 strike for $6 and buying a call with a $175 strike for $8. a. What is the max gain on this strategy if the stock declines? 175(6+8)=161 b. Is the trade more likely to be profitable if realized volatility until expiration ends up being higher or lower than implied volatilities? higher c. What are the 2 breakeven points for this strategy? 175+(6+8)=1891M(6+8)=161 d. Draw a profit/loss (at expiration) graph for this strategy. (must include strike and breakeven's)