Reference the options chain for Caterpillar, Inc. (ticker: CAT) shown below. You plan to construct a collar using the $100 strike and the $115 strike. Note that the current stock price as of the time of this transaction is shown at the bottom of the image below. You are only buying/selling one of each respective option contract. What is your max loss? State your answer in contract-level terms. Your answer should be a dollar amount with two decimal places of accuracy.

Reference the options chain for Caterpillar, Inc. (ticker: CAT) shown below. You plan to construct a collar using the $100 strike and the $115 strike. Note that the current stock price as the time of this transaction is shown at the bottom of the image below. You are only buying/selling one of each respective option contract. What is your max loss? State your answer in contract-level terms. Your answer should be a dollar amount with two decimal places of accuracy. (Note on viewing table below: You may have to use a horizontal scrollbar to see all of the columns in the table below.) CAT Option Chain Month: Nov 2020 Calls Puts Last Change Bid Ask Volume Open Int. Strike Last Change Bid Ask Volume Ope Int. 12.40 14.80 15.45 32 100.00 10.70 -0.27 10.55 10.90 12 426 11.75 12.05 12.65 -- 154 105.00 13.00 -0.65 12.85 13.25 28 403 10.05 +0.74 9.75 10.10 10 211 110.00 15.54 15.50 15.95 -- 308 7.70 +1.70 7.70 8.10 2 622 115.00 18.64 18.40 18.95 292 Expires 11/20/2020 Last Trade: $105.41 (as of May 15, 2020 11:06