Question: please do provide detailed explanation for thumsup. Do only if you 100 % sure otherwise don't do QUESTIONS You form a long straddle by buying

please do provide detailed explanation for thumsup. Do only if you 100please do provide detailed explanation for thumsup. Do only if you 100 % sure otherwise don't do

QUESTIONS You form a long straddle by buying a call with a premium of C-58, and buying a put with a premium of P = 56. Both options have an exercise price of X=$49, both mature in 3 months, and both have the same underlying asset. Find the profit of this straddle when the ending price of the underlying asset is ST-547. Do NOT use the symbol in your answer, just write a numerical value. Of course, include the negative sign if the answer is negative; but do not include the positive sign if the answer is positive. (Acceptable error = 1)

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