Question: You are implementing a combined options strategy holding long call and long put (European) options on the shares of Apple with strike price of $1395.0.

You are implementing a combined options strategy holding long call and long put (European) options on the shares of Apple with strike price of $1395.0. You have paid $103.3 for the call option and $91.4 for the put option. What is the maximum loss you can experience with this option strategy? The spot price on Apple shares is 1395.0.

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