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An investor buys a 6-month put option with strike price of $60 for $3 and writes a 6-month put option with strike price of $40

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An investor buys a 6-month put option with strike price of $60 for $3 and writes a 6-month put option with strike price of $40 for $1.6. The cost and payoff of bear spread strategy for ST - $35 will be 1. -$1.4 and -$1.4 2. -$1.4 and $25.4 4. None of the above

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