Buying a Straddle: Betty buys a straddle on Lehigh that has a strike price of $40.45. The premium of the call is $1.25 and the premium of the put is $1.60. Calcuate the net profit or loss on buying the straddle if at the time of expiration the price per share of Lehigh is $81.60. Place your answer with dollars and cents without a dollar sign. Enter negative answers with a "minus" sign. For example, if your answer is negative two dollars and seventy five cents, then enter -2.75. SUBMIT ANSWER THIS IS A TWO-PART QUESTION PART 1: Janet sells a share of Harper short at $6.40 per share, and at some future date covers her short position (gets out of his short position) when Harper is trading at $9.60. What is Janet's profit or loss on the trade? $ Place your answer with dollars and cents without a dollar sign. All losses (negative answers) should be placed with a "minus" sign. For example, if your answer is a loss of two dollars and seventy five cents, then enter -2.75. YOU ARE NOT FINISHED. NOW GO ON TO THE SECOND PART! PART 2. What is the MOST that Janet can gain on his original short trade? Place your answer in dollars and cents. If you believe the answer is "no limit to the amount of gain" then place the answer of 9999 (that is, type 4 consecutive 9's in the answer box) $