a. What is the aim of a long (or bottom) straddle strategy? b. Create a long straddle

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a. What is the aim of a long (or bottom) straddle strategy?
b. Create a long straddle by buying a call and a put with strike price K3 = $22.50.
Strike Price
In finance, the strike price of an option is the fixed price at which the owner of the option can buy, or sell, the underlying security or commodity.
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