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1. John buys a call option on pounds. The contract size is 100,000 and the option expires in 30 days. The strike price is $1.50

1. John buys a call option on pounds. The contract size is 100,000 and the option expires in 30 days. The strike price is $1.50 and the option premium is $0.01 per pound. (a) Graph the profit/loss on the option contract. (b) What is the break-even price? (c) At what range of spot prices (in 30 days) does John make profit

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