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a.An option is trading at $5.03. If it has a delta of -.56, what would the price of the option be if the underlying increases

a.An option is trading at $5.03. If it has a delta of -.56, what would the price of the option be if the underlying increases by $.75? What would the price of the option be if the underlying decreases by $.55?

b.What type of option is this? Explain your answer.

c.With a delta of -.56, is this option ITM, ATM or OTM? Explain your answer.

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