An investor buys a strangle on a JEDI stock by buying one call option with an exercise price of $20 for $1 and buying one put option with an exercise price of $18 for $3. (above relates to the questions below) (please show workings)

1. If JEDIs expiration date stock price is $15, the investors profit is: (a) -$1 (b) $1 (c) $5 (d) -$7. 84.

2. If JEDIs expiration date stock price is $20, the investors profit is: (a) $4 (b) -$2 (c) -$4 (d) $2. 85.

3. If JEDIs expiration date stock price is $25, the investors profit is: (a) $7 (b) -$9 (c) -$3 (d) $1.