Consider a "long strangle" constructed from options which have an expiration date of Aug. 20. The following table displays the possible prices of Boeing stock on Aug. 20, as well as the payoffs accruing to someone who holds a long strangle on Boeing stock: Probability 0.2 0.3 0.2 0.2 0.1 Stock price $80 $90 $100 $110 $120 Gain from long straddle -$15 $5 $0 $10 -$20