You are implementing a combined options strategy holding long call and long put (European) options on the shares of Apple with strike price of $1691.8. You have paid $107.6 for the call option and $97.4 for the put option. What is the maximum loss you can experience with this option strategy? The spot price on Apple shares is 1691.8.

a.

$-205.00

b.

$-1896.80

c.

$1486.80

d.

$-1486.80

e.

$-1691.80