Question: Please answer the following question with steps and explaination. An investor makes a strap strategy using the following asset when spot price of underlying is

Please answer the following question with steps and explaination.
Please answer the following question with steps and explaination. An investor makes

An investor makes a strap strategy using the following asset when spot price of underlying is $45. 1. European put with strike $45 for $3. 2. European put with strike $55 for $4.0. 3. European call with strike $45 for $4.5. 4. European call with strike $45 for $3.5. What is the payoff of the STRAP strategy if the spot price decreases to $30? Please complete the table below: Your answer shouldn't be more than ONE decimal places. Option Position ST K f (premium, price, value) Net Pay off $30 $ $ $45 $30 $ 5 $45 $30 $45 Strategy cost Strategy Pay off $ $ $ $

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