Question: A strangle is created by buying a put and buying a call on the same stock with a higher strike price and the same expiration.

A strangle is created by buying a put and buying a call on the same stock with a higher strike price and the same expiration. A put with a strike price of $155 sells for $8.55 and call with a strike price of $165 sells for $10.40. Draw a graph showing the payoff and profit for a straddle using these options.

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