Today in this problem is early November. Suppose that you have the following information. (All prices are per share.)

• Micron Technology stock price is $70.71.
• Micron does not pay dividends.
• December put options (standard expiration date) on Micron common stock with a strike price of $60 have a premium of $0.47 per share.
• December call options (standard expiration date) on Micron common stock with a strike price of $80 have a premium of $0.44 per share.
• Both options expire in about six weeks. So time to expiration is approximately T = 6/52 year.
• Both options are on 100 shares of Micron common stock.

Assume that you use three contracts of each option to construct a strangle. What is your total profit or loss if the stock price is $75.92 at expiration? For the sake of this problem, assume that all options are held to expiration.

Do not round values at intermediate steps in your calculations. Enter your answer in dollars and cents to the penny, but omit the $ symbol and commas. For example, enter $1,234.56 as 1234.56 as your answer. If your answer is a loss, then enter the value with a minus sign, for example, -1234.56