Problem 15-21 Option Strategies (LO3, CFA5) You buy a straddle, which means you purchase a put and a call with the same strike price. The put price is $2.40 and the call price is $4.50. Assume the strike price is $80. a. What are the expiration date payoffs to this position for stock prices of $70, $75, $80, $85, and $90? What are the expiration date profits for these same stock prices? (A negative value should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round your "Total profit" answers to 2 decimal places.) Call payott Put payoff Total payoff Total profit Stock price $ 70 $ 75 $ BO $ 85 $ 90 b. What are the break even stock prices? (Round your answers to 2 decimal places.) High Low Break-even prices