A long straddle is an options trading strategy where an investor simultaneously buys a call option and a put option at the same strike price and expiration date for the same underlying asset. This is a bullish and bearish strategy at the same time.

You are interested in investing in a Long Option Straddle in ACME Stock.

You have the following data:

Current Stock Price = $75.00

Dual Strike Price = $71.00

Call Option Premium = $3

Put Option Premium = $1.55

Which of the following statements is most accurate as it pertains to the Long Straddle.

Looking at prices from $60 to $80 with increments of $1, at which stock price will you incur the largest dollar gain.

At the stock price of $72, you will incur the largest loss.

At the stock price of $63, you will incur the largest loss.

At the stock price of $80, you will incur the largest loss.

At the stock price of $60, you will incur the largest loss.