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An investor paid $150 for a standard PHLX March Call Option on GBP (standard size is GBP15,000) with a strike price of $1.5304 per GBP.

An investor paid $150 for a standard PHLX March Call Option on GBP (standard size is GBP15,000) with a strike price of $1.5304 per GBP. If on expiration day the

spot rate for the British Pound is $1.5823, what is the profit or loss incurred by this investor?

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