Liz buys one share of Koca-Loka long for $10.80 and at the same time she buys a call on Koca-Loka that has an exercise price of $11.80 and a premium of $1.60. What is the combined profit or loss on the covered call if at the time of expiration Koca-Loka 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.

time of expiration Koca-Loka is trading at $8.50 per share? Assume that she gets out of her long position at the same time her option expires