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An option has a delta of 0.5 and a gamma of 0.04 and when the underlying has a price of $10 the option has a

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An option has a delta of 0.5 and a gamma of 0.04 and when the underlying has a price of $10 the option has a price of $4.5. What is the delta-gamma approximation to the new option price when the underlying price changes to $9 ? $4.98 None of these are correct $5.02 $4.02

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