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An investor writes one XYZ Apr call option at a strike price of $40 for a premium of $3 (per share). At expiry the stock

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An investor writes one XYZ Apr call option at a strike price of $40 for a premium of $3 (per share). At expiry the stock price is $50. What is the net gain or loss for the writer? (Remember: each call or put contract is for 100 shares). a) Loss $1,000. b) Gain $300 c) Gain $1000 d) Loss $700

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