8. Writing strangle (advanced). Assuming that Allied-Lyons would write strangle as speculative strategy, rather than straddle as in problem 7, would you consider it to be more or less speculative? Prepare single graph contrasting the two approaches, assuming that to create strangle, Allied-Lyons was writing put and call options at strike prices of $1.20 and $1.30 and premiums of 1.16 cents and 1.04 cents, respectively.
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