1. A trader creates a long strangle with put options with a strike price of $160 per share, and call options with a strike of $170 per share by trading a total of 30 option contracts (15 put contracts and 15 call contracts). Each contract is written on 100 shares of stock. The put option is worth $13 per share, and the call option is worth $11 per share.

   A. What is the value of the strangle at maturity as a function of the then stock price? B. What is the profit of the strangle at maturity as a function of the then stock price?