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A three-month European put option with a strike of price $13 costs $0.4. The price of the underlying asset is $15.8. An investor forms a

A three-month European put option with a strike of price $13 costs $0.4. The price of the underlying asset is $15.8. An investor forms a covered put strategy. Suppose that at maturity, the price of the underlying asset is $11.5. What is the profit/loss per share from this strategy?

a.

$4.70

b.

$-4.70

c.

$-3.20

d.

$-8.30

e.

$3.20

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