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A stock price is currently $60. Over each of the next two three-month periods it is expected to go up by 5% or down by

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A stock price is currently $60. Over each of the next two three-month periods it is expected to go up by 5% or down by 5%. The risk-free interest rate is 12% per annum with continuous compounding. What is the value of a six-month European call option with a strike price of $60? Draw out the binomial tree with stock price (above) and option price (below) at each node

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