For Long strangle strategy. explain:

When to use the strategy? (explain in your own words and in no more than 5 sentences)

How or when you would profit from the strategy? (explain in your own words and in no more than 5 sentences)

How or when you would lose from the strategy? (explain in your own words and in no more than 5 sentences)

Actions Products Views 13) Load Asset Settings Option Valuation Equity/IR 12) Solver (Strike) 2) Deal 1 3) Pricing o Graph Y-Axis X-Axis 22) Deal 2 23) Deal 3 33) Matrix ario 34) Volatility 35) Backtest Table Profit& Loss Price 07/19/2017 09/02/2017 10/17/2017 Range Current Spot Underlying 8 16 13.545 AMD US Equity Probability Break-Even TrecknnotateZ.oom 1.50 Current underlying 8158 0.50 0.50 1.00 1.50 Price