Question: A (long) strangle is constructed using a European call option and a European put option on the same common stock, the put has a strike

 A (long) strangle is constructed using a European call option and

A (long) strangle is constructed using a European call option and a European put option on the same common stock, the put has a strike price of $40 while the call has a strike price of $45. The put premium is $2.31 while the call premium is $3.64. What is the net payoff to the trader if the appropriate option is exercised at an ending stock price of $17.88

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