Question 3 O pts Discuss under which of the following market expectation scenarios would investors implement 1) covered call, 2) protective put, 3) bull spread, 4) bear spread, and 5) straddle. a) high volatility, upward trending price movement b) low volatility, upward trending price movement c) high volatility, no directional trend d) low volatility, no directional trend e) high volatility, downward trending price movement f) low volatility, downward trending price movement