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An investor purchased one $20 ABC Inc. call option (100 shares) for $3. Later, when ABC Inc. was trading $30, the investor exercised the option.
An investor purchased one $20 ABC Inc. "call" option (100 shares) for $3. Later, when ABC Inc. was trading $30, the investor exercised the option. The price of ABC continued to rise and when it reached $45, the investor sold ABC. What was the profit?
$700
$1,500
$2,200
$2,500
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