Suppose the A&T index is 820, the continuously compounded risk-free rate is 3 %, and the dividend yield is 0 %. A 1-year 845 - strike European call costs $ 72.6 and a 1-year 845 - strike European put cost $ 45.6. Consider the strategy of buying the index, selling the 845 - strike call, and buying the 845 -strike put.
What is the continuous rate of return on this position held until the expiration of the options %?