Question $8$

$10pts$

You believe Apple's $($AAPL$)$ common stock is either going to hover near its current market price of $$67\mathrm{.}75$ or$,$ if it has a breakout, it will be to the upside. You choose to set up a $1$:$2$ ratio put spread by going long one July $72\mathrm{.}50$ put and going short two July $62\mathrm{.}50$ puts. The July $72\mathrm{.}50$ puts have a premium of $$6\mathrm{.}13,$ while the premium on the July $62\mathrm{.}50$ puts is $$3\mathrm{.}88.$

What is the maximum loss for this position? Enter as a negative number. If unlimited enter $-8888.$