Question $14$

$5$ pts

You believe PDQ stock will maintain its current price of $$40\mathrm{.}15$ for more than a month, so you decide to set up a short straddle using PDQ $40$ calls @ $$1\mathrm{.}75$ and PDQ $40$ puts @ $$1\mathrm{.}85.$ You go short $3$ contracts of each option.

What is the high break$-$even price for your position?