Answer:
$1.15
Explanation:
Calculation for the net value of a long straddle position
Using this formula
Net value of a long Straddle=(Stock price at expiration-Strike price)-Put option selling-Call option selling
Let plug in the formula
Net value of a long Straddle = ($35-$29)-$2.90-$1.95
Net value of a long Straddle=$6-$2.90-$1.95
Net value of a long Straddle=$1.15
Therefore the net value of a long straddle position will be the amount of $1.15
