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Johanna places a combination trade as follows: she buys one share of Van Houtte long for $10.30 and at the same time she buys a
Johanna places a combination trade as follows: she buys one share of Van Houtte long for $10.30 and at the same time she buys a call on Van Houtte that has an exercise price of $11.30 and a premium of $1.85. What is the combined profit or loss on the TWO trades if at the time of expiration of the call option Van Houtte is trading at $8.50 per share? Assume that she gets out of her long position at the same time her option expires. 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
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