Please show any excel formula that explains the solution if applicable

Part 4: Straddle G) Consider buying a call and a put option, both with a strike price of $24 and the same expiration. Fill in the table for the payoffs of the straddle (8 points) Payoff from a straddle Range of stock price Payoff from call Payoff from put K ST 0 Total payoff K ST ST K ST K 0 ST K H) Plot the graph of the stock price (x-axis) vs. the total payoff (y-axis) for the straddle. Label the axes and chart title (8 points) In the report, for each option strategy: 1) Describe the relation between the payoff and stock price 2) Under what circumstances would the strategy have a positive payoff? 3) Why would such an option trading strategy be undertaken? D F G 140 141 142 G) Straddle Payoff 143 144 Long call option 145 Long put option 146 K= K= 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 H) Straddle Plot 163 164 165 Stock Price (ST) Total Payoff $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $45.00 $50.00 $55.00 $60.00 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185