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5. A certain stock is currently trading for $86 per share. The annual continuously compounded risk-free interest rate is 9.5%, and the stock pays dividends

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5. A certain stock is currently trading for $86 per share. The annual continuously compounded risk-free interest rate is 9.5%, and the stock pays dividends with an annual continuously compounded yield of 3%. The price volatility relevant for the Black-Scholes formula is 35% Find the delta of a put option on the stock with strike price of $90 and time to expiration of 9 months. Hint: 0.4258

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