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Buying a Straddle: Betty buys a straddle on Lehigh that has a strike price of $ 40.60 . The premium of the call is $
Buying a Straddle: Betty buys a straddle on Lehigh that has a strike price of $40.60. The premium of the call is $1.40 and the premium of the put is $1.90. Calcuate the net profit or loss on buying the straddle if at the time of expiration the price per share of Lehigh is $82.40. $ 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.
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