Question $15$

$5$ 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 maximum profit for your position?