Question: A trader enters into a bear spread strategy using the following puts. Feb 25 $145 P- Price: $2.20 Feb 25 $165 P - Price: $15.75

 A trader enters into a bear spread strategy using the following

A trader enters into a bear spread strategy using the following puts. Feb 25 $145 P- Price: $2.20 Feb 25 $165 P - Price: $15.75 What is the profit (or loss) of the trade if the shares are trading for $152 at expiration? (Enter the total trade value, not the per share value)

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