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A strategy includes three positions: 1) short one share of a stock at $96.00 per share; 2) short one share of put with strike price

A strategy includes three positions: 1) short one share of a stock at $96.00 per share; 2) short one share of put with strike price of $90.00, the premium is $5.30 per share; 3) long one share of call with strike price of $103.00 and premium of $3.90 per share. Assuming the investor holds the strategy until expiration of the put and the call options.

1) If the market price of the stock is $101 at expiration, the profit from the strategy would be: ______

$6.40

$3.60

-$3.6

-$6.40

2)The maximum profit from the strategy at expiration is:______

$7.40

$10.00

$5.60

$11.60

3)The minimum profit from the strategy at expiration could be:______

-$7.40

-$5.60

-$11.60

-$4.60

4)The break-even price of the strategy is:______

$94.60

$91.40

$88.60

$97.40

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