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Lauren WRITES a straddle on Alta Corporation that has a strike price of $40.70. The premium of the call is $4.30 and the premium of

Lauren WRITES a straddle on Alta Corporation that has a strike price of $40.70. The premium of the call is $4.30 and the premium of the put is $6.50. Calculate the net profit or loss on the WRITING of the straddle if at the time of expiration the price per share of Alta is $40.65.

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