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A customer buys 100 shares of ABC stock at $49 and sells 1 ABC Jan 50 Call at $4: The max potential loss is? Prior

A customer buys 100 shares of ABC stock at $49 and sells 1 ABC Jan 50 Call at $4:

The max potential loss is?

Prior to expiration, the customer closed the short call positon at $1. He retains the long stock position. The gain or loss on the option is?

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