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An investor buys 100 XYZ stock at $50, and also buys 1 XYZ December 45 put for $5. XYZ stock declines to $30, and the

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An investor buys 100 XYZ stock at $50, and also buys 1 XYZ December 45 put for $5. XYZ stock declines to $30, and the investor exercises his put, and sells his stock. What are the investor's gains or losses? a. Zero, he is fully hedged. b. $1,000 gain c. $1,000 loss d. $2,000 loss e. $2,000 gain

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