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1) You set up a Long Strangle on 100 shares of Nike using one $57 call @ $4.20 and one $48 put @ $2.47. At
1) You set up a Long Strangle on 100 shares of Nike using one $57 call @ $4.20 and one $48 put @ $2.47. At expiration Nike is trading at $50.35 When you set up the strangle you pay On this strategy the lower breakeven price is $ and the upper breakeven price is $ You hold the strangle to expiry so your profit (loss) is $
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