For the next 3 questions, use the following information: At-the-money European 5 month maturity call options on Tesla stock trade for $44.75. The current stock price is $295 and the continuous annual risk-free interest rate is 3.5%... You consider the strategy from the previous question to be too expensive. Consider how you could make the same bet on volatility over the next 5 months at a lower cost, but with a strategy that would require the underlying to have a larger move in price for the option strategy to payoff. What is the option premium you would pay for this lower cost (but lower payoff) strategy given the following prices: Strike Call Put 280 53.45 40.48 295 44.75 43.26 310 37.88 50.45