I need to calculate the payoff from these 4 financial derivatives when the price of stock is $352.75 on the maturity date.
Short a 9-month European call option on stock with a strike price of $388.03
Short a 9-month European call option on stock with a strike price of $423.3
Long a 9-month European call option on stock with a strike price of $306.89
Long a 9-month European put option on stock with a strike price of $388.03.
I used the formula for call and put options such as max(St − K, 0) and got the answer 186.97, but apparently this is wrong. I'm not sure where I'm going wrong, is it possibly because I'm not taking the expiry of the options into account?
(388.03-352.75)+(423.3-352.75)+(352.75-306.89)+(388.03-352.75)=186.97