Speculating with Currency Put Options Alice Duever purchased a put option on British pounds for $.04 per
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Speculating with Currency Put Options Alice Duever purchased a put option on British pounds for
$.04 per unit. The strike price was $1.80, and the spot rate at the time the pound option was exercised was $1.59.
Assume there are 31,250 units in a British pound option.
What was Alice’s net profit on the option?
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