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You expect the price of GE to not change very much in the next month, so you go short on (sell) a straddle (a put
You expect the price of GE to not change very much in the next month, so you go short on (sell) a straddle (a put and a call at the same strike) on 100 shares of GE, with a strike price of $22.4. The premiums on the put and the call are each $0.99. If the price at maturity is $27.7, what is your profit from this position?
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