Suppose you executed the following trade (strategy): Sell 1 XYZ straddle (X= R55) @R6.50 Buy 1 XYZ strangle (X=R50; X=R60) @ R2.00 All options have identical expiration dates a. What is the cost of initiating such a strategy? [3] b. Graphically depict a fully-labeled Profit and Loss diagram of the overall strategy highlighting the break- even points, maximum potential profit and maximum potential loss. [12] c. Describe the advantages of such a strategy. Under what conditions would you initiate such a strategy? [5]