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3. OKB is a non-dividend paying common stock trading at $84 per share. European calls and puts on OKB with a strike price of $86

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3. OKB is a non-dividend paying common stock trading at $84 per share. European calls and puts on OKB with a strike price of $86 and two months to maturity are trading at $3.50 and $6.50, respectively. You have estimated that a $1 change in the stock price will result in a $0.40 change in the value of the call option. How large will the price change be of the put option if the stock price goes up by $1.00? (10 points)

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