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4. The current price on a non-dividend paying stock is 50 and the continuously compounded risk-free interest rate is 6%. You enter into a short

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4. The current price on a non-dividend paying stock is 50 and the continuously compounded risk-free interest rate is 6%. You enter into a short position on 3 call options, each with 3 months to maturity, a strike price of 45, and an option premium of 6.76. Simultaneously, you enter into a long position on 5 call options, each with 3 months to maturity, a strike price of 50, and an option premium of 3.13. All 8 options are held until maturity. Determine the maximum possible profit and the maximum possible loss for the entire option portfolio

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