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Long Strangle:

Buy 1 $60 BAC Put at $2.25 (Premium)

Buy 1 $70 BAC Call at $2.50 (Premium)

Initial Debit (Loss): $4.75 or $475 (2.25+2.5 =4.75) (Max loss)

Short Strangle

Sell 1 $60 BAC Put at $2.50 (Premium)

Sell 1 $70 BAC Call at $2.30 (Premium)

Initial Credit (Profit): $4.80 or $480 (2.3+2.5 =4.80) (Max Profit)