A strategy consists of buying a market index product at $1200 and longing a put on the index with a strike of $1200. The put premium is $15.00 and interest rates are 0.5% per month Compute the profit or loss from the long put position by itself (in 3 months) if the market index is $1280. $62.64 gain $64.77 gain $17.36 loss $15.23 loss What is the profit or loss at expiration (in 3 months) of the strategy if the market index is $1280? $44.55 loss $80.75 gain $77.14 loss $46.68 gain