An investor buys a $950-strike, two-year straddle on gold. The price of gold two years from now is modeled using the following distribution: $925; with probability 0.35; $950; with probability 0.25; and $1,020; with probability 0.4. What is the investor's expected payoff? An investor buys a two-year ($950, $1,000)-strangle on gold. The price of gold two years from now is modeled using the following distribution: $925; with probability 0.45; $975; with probability 0.15; and $1,200; with probability 0.4. What is the investor's expected payoff