Please help provide a correct solution with a detailed explanation.

An investor believes that there will be a big jump in a stock price, but he is uncertain as to the direction. A call with a strike price of $60 costs $6. A put with the same strike price and expiration date costs $4. a) Given his beliefs, which one of the following strategies makes sense for the investor? 1. A Long Straddle 2. A Short Strangle 3. A Butterfly Spread 4. A Bull Spread using Puts Choose one and explain your choice b) Construct a table that shows the payoff and profit/loss from the strategy you chose in a) above. c) For what range of stock prices would the chosen strategy lead to a loss? An investor believes that there will be a big jump in a stock price, but he is uncertain as to the direction. A call with a strike price of $60 costs $6. A put with the same strike price and expiration date costs $4. a) Given his beliefs, which one of the following strategies makes sense for the investor? 1. A Long Straddle 2. A Short Strangle 3. A Butterfly Spread 4. A Bull Spread using Puts Choose one and explain your choice b) Construct a table that shows the payoff and profit/loss from the strategy you chose in a) above. c) For what range of stock prices would the chosen strategy lead to a loss