ssume the following options are currently available for British pounds (): Call option premium on British pounds = $.04 per unit Put option premium on British pounds = $.03 per unit Call option strike price = $1.56 Put option strike price = $1.53 One option contract represents 31,250. Construct a worksheet for a long strangle using these options. Determine the break-even point(s) for a strangle. If the spot price of the pound at option expiration is $1.55, what is the total profit or loss to the strangle buyer? If the spot price of the pound at option expiration is $1.50, what is the total profit or loss to the strangle writer