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20. Assume two call options on Australian Dollars are currently available. The first option has a strike price of $.63 and a premium of $.018.

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20. Assume two call options on Australian Dollars are currently available. The first option has a strike price of $.63 and a premium of $.018. The second option has a strike price of $.64 and a premium of $.016. To construct a strategy, a trader buys the $.64 option and sells the $.63 option. What is the profit of the trader contingent on the spot rate of Australian dollar at option expiration? (12 points) VALUE OF AUSTRALIAN DOLLAR AT OPTION EXPIRATION $.60 $.64 $.645 $.65 $.70 Buy a call Sell a call Total

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