7.23. A United States investor buys 500 shares of a stock and sells five call option contracts...

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7.23. A United States investor buys 500 shares of a stock and sells five call option contracts on the stock. The strike price is $30. The price of the option is $3. What is the investor's minimum cash investment

(a) if the stock price is $28 and

(b) if it is $32?

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