Construct a long strap using the 165 strike options. Hold it until the options expire. determine the profits if the stock price at expiration is $160? The options for microsoft (stock price $165.13) are trading at the following prices:

Strike: $165, Call: $8.10, Put: $6.75 Strike: $170, Call: $3.25, Put: $7.50

a. -$575 b. -$849 c. -$985 d. -$1157