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3. Assume Call and Put options on IBM Stock have a strike of $84 have premia of $3 and $3 respectively. If at maturity the

3. Assume Call and Put options on IBM Stock have a strike of $84 have premia of $3 and $3 respectively. If at maturity the spot is $80.61, what is the payoff (per share) from the option that is in the money?

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