Question 2 a). A call with a strike of K = 50, costs C = $2 and a put also with K = 50, costs P = $4. The call and put have the same maturity. Complete the values in the following table and explain how the payoffs and profits from a short straddle arise. (You may also use a diagram in your answer). Payoffs call put = Short Straddle Option premia Profit ST K b). Explain any (qualitative) differences between a short straddle (as in part "a") and a short strangle. (You may use a diagram to illustrate your answer).