Suppose you executed the following trade (strategy): Sell1 XYZ straddle (X=R55)@R6.50 Buy1 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]