Lauren purchases 100 shares of Greshak Corp. stock for $63.00 per share and wishes to hedge her position by writing a 100 share call option on her holdings. The option has a $65.00 strike price and a premium of $8.75. If Greshak's stock is selling for $64.00 at the time of option's expiration, what will be the overall dollar ($) gain or loss on this covered option strategy? (Consider the underlying stock holding as well the options.)