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5. An exotic option pays off 10 when ST is 100, 0 when ST is 99 and 20 when ST is 110. Which of the

5. An exotic option pays off 10 when ST is 100, 0 when ST is 99 and 20 when ST is 110. Which of

the following best describes this option?

a. Gap call

b. American-style put

c. Up-and-in call

d. Down-and-out put

e. Gap put

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