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3. Suppose a trader shorts 450 shares in April when the price per share is $90 and closes out the position by buying them back

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3. Suppose a trader shorts 450 shares in April when the price per share is $90 and closes out the position by buying them back in July when the price per share is $100. Suppose further that a dividend of $1.5 per share is paid in May. Please calculate: (20 marks) Bl450 * 90) - (450 - 100) - (500 x 1.5) a. The net profit for short sale. b. The net profit for long position. (-4 X 90 + (450-100) + (50 x 153

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