If the total cost was $1000, that means you put $500 into each which means you would only get back $700 or so on the put. $200 in profit. You would be about wiped out on the call. Which means you are down money.
I dont understand what you are not getting. If he put $1000 into the GOOG August $670 calls at $1.90 or so. that means he bought 5 of them. They are now worth .15 ask, or about $70, so hes -$930.
At the same time he bought the calls if he put $1000 into the GOOG August $470 puts at $8, that means he bought 1.25 of them ( I know he cant but im just using it to keep everything even). They are now at $12 or so, which means he gets back $1500 on those for +$500. So he spent $2000 and at this time has about $1570, or he is -$430.
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