Question text 5Marks A trader is deliberating between two option-trading strategies, both of which are designed to speculate on the volatility in the underlying asset: a short straddle can be constructed by entering a short call and a short put, each with a $40 strike price. a short strangle can be constructed by entering a short call with a $45 strike and a short put with a $35 strike. Answer each of the following questions, giving your answer to 2 decimal places.If the calculated number is negative, be sure to enter the negative sign in the box. Do not enter the dollar sign ($).Required:The short straddle and the short strangle will both make a profit if the underlying share price Answer 1[select: , remains close to, moves far away from] its current position.For the short straddle, the lower breakeven point is Answer 2[input] and the upper breakeven point is Answer 3[input].For the short strangle, the lower breakeven point is Answer 4[input] and the upper breakeven point is Answer 5[input]. (For each box above, enter your answer to 2 decimal places. If the calculated number is negative, be sure to enter the negative sign in the box. Do not enter the dollar sign ($).)Please answer all parts of the question.Notes Report question issue Question 27 NotesMultiple fill-in-the-blank