Assume that you have purchased a call option with a strike price $60 for $5. At the same time you purchase a put option on the same stock with a strike price of $60 for $4. If the stock is now selling for $75 per share, calculate the dollar return on this option strategy. Explain the advantages of forming a straddle strategy? Assume that you have purchased a call option with a strike price $60 for $5. At the same time you purchase a put option on the same stock with a strike price of $60 for $4. If the stock is now selling for $75 per share, calculate the dollar return on this option strategy. Explain the advantages of forming a straddle strategy?