On October 31, the following options on Apparel Group stock, all expiring in December the same year, sold for the following prices:
Options Exercise Price Option Premium
Call $45 $7.90
Put $50 $1.25
Call $55 $1.70
You buy one call (one contract is 100 shares) with $45 exercise price, buy two puts with $50 exercise price, sell one call with $55 exercise price.
What is your net profit (loss) if Apollo Group stock price is $48 at expiration?