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You form a long straddle by buying a call with a premium of C = $7, and buying a put with a premium of P
You form a long straddle by buying a call with a premium of C = $7, and buying a put with a premium of P = $6. Both options have an exercise price of X = $30, both mature in 5 months, and both have the same underlying asset. Find the profit of this straddle when the price of the underlying asset is S = $35.
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