You think the price of a utility company stock, which is currently $80 is unlikely to change significantly over the next three months. To profit from this expectation, you sell a straddle position, with a call and put option, worth $8 and $8 per share, respectively, with three months to expiration, and a strike price of $80. If at expiration the stock is trading at $65, what is your net profit on this position?

Remember that option contracts come in multiples of 100 shares.