What is the maximum potential loss in a long straddle strategy? Option: Dependent on the strike price, Determined by market volatility, Equal to the net premium paid, Unlimited

What is the maximum potential loss in a long straddle strategy?

What is the maximum potential loss in a long strangle option strategy?

What is the maximum potential profit achievable with a short straddle strategy?

What happens to the profitability of a short straddle as the market moves significantly away from the strike price?

What is the maximum potential profit in a short strangle option strategy?

What is the primary risk associated with a short strangle option strategy?