A trader establishes an option-trading strategy as follows:

• One long put option with a strike price of $70, which has a premium of $9.90, and
• One short put option with a strike price of $60, which has a premium of $5.30.

The upfront cost to establish this strategy is Answer. Do not enter a +ve or -ve sign for this answer. Just enter the dollar amount. Do not enter the dollar sign($).

In the following questions, enter all answers to 2 decimal places. If the payoff is negative, be sure to enter the negative sign. Be careful to differentiate between gross payoffs and net payoffs. Do not enter dollar signs ($).

If the underlying share price at expiry is $64:

• The gross payoff on the long put option is Answer
• The gross payoff on the short put option is Answer
• The gross payoff to the option-trading strategy is Answer.

If the underlying share price at expiry is $56:

• The gross payoff on the long put option is Answer
• The gross payoff on the short put option is Answer
• The gross payoff to the option-trading strategy is Answer.

Taking the upfront establishment cost into account, the breakeven point for this option-trading strategy is Answer.