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A trader buys 200 put options on a stock with a strike price of $100 when the option price is $3 and the stock price

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A trader buys 200 put options on a stock with a strike price of $100 when the option price is $3 and the stock price is $102. The trader holds the options to the maturity date when the stock price is $107. What is the trader's net profit or loss? Loss of $2,000 Profit of $400 Loss of $600 Profit of $200

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