Problem 9. Option Strategies You buy a straddle, which means you purchase a put and a call with the same strike price. The put price is $1.30 and the call price is $3.90. Assume the strike price is $50. a. What are the expiration date payoffs to this position for stock prices of $40.945, $50,$55, and $60? 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 pay Total profit Stock price $ 40 5 45 5 50 55 5 60 b. What are the break-even stock prices? (Round your answers to 2 decimal places.) High Low Break even prices