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8 . An investor holds 1 , 0 0 0 shares of a stock, and they decide to establish a collar with l 0 put
An investor holds shares of a stock, and they decide to establish a collar with l put contracts on the stock with a $ strike price, selling for $ per share, and call contracts withs at a strike price of$ sells for $ per share. What is the total payoff and profit, respectively, if the stock price $ when exercised
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