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7. Suppose that someone purchased a May $75 put option on a stock for $150 while the stock was selling for $79.75.What's the gain or

7. Suppose that someone purchased a May $75 put option on a stock for $150 while the stock

was selling for $79.75.What's the gain or loss for the buyer of the put if the stock is

selling for $82 at maturity?

Answer: It's a gain / loss (circle one) of $____________

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