Question: You currently have a long position on a straddle. A long straddle is a combination of a long call and a long put on the

You currently have a long position on a straddle. A long straddle is a combination of a long call and a long put on the same stock. You bought the call and the put at the same premium of $3.The two options have the same expiration date and the same exercise price of $50.If the stock price is $51, what is your net income?

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