A speculator buys a call option for $3, with an exercise price of $50. The stock is
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Question:
A speculator buys a call option for $3, with an exercise price of $50. The stock is currently priced at $49, and rises to $55 on the expiration date. The speculator will exercise the option on the expiration date (if it feasible to do so). What is the speculator's profit per unit?
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