Question: When you enter a long straddle strategy on Macys Inc. (M) shares, what is your maximum possible loss? The M 60 December put option is

When you enter a long straddle strategy on Macys Inc. (M) shares, what is your maximum possible loss? The M 60 December put option is quoted at $3, the M 60 Dec call option is quoted at $7. The size of call and put contracts is 100 shares.

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