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A call option is written on XYZ with a $10 strike price. The current price of XYZ shares is $8.50. The option is selling in

A call option is written on XYZ with a $10 strike price. The current price of XYZ shares is $8.50. The option is selling in the market for a premium of $9. Is there an arbitrage opportunity? If so, explain your trading activity to capture the arbitrage profit. Assume the riskfree rate is 6% and the option has one year to expiry

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