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9- Today, I bought I call contract on GM with one-year to maturity with an exercise price of $50 at a premium of $5 when

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9- Today, I bought I call contract on GM with one-year to maturity with an exercise price of $50 at a premium of $5 when GM stock price was $50. Two month later, GM stock price closed at $62 while the option premium was $15 at which time I closed my position by exercising my call option. Compute my gain/loss. PS: In all questions above X denotes the exercise price of the options, C=call premium, P=put premium, and S=stock price

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