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Apple is trading at $180. Using the binomial model, you assume that the share price can increase to $220 or decrease to $140. You want

Apple is trading at $180. Using the binomial model, you assume that the share price can increase to $220 or decrease to $140. You want to replicate 100 put options with a strike price of $200. How many shares do you have to trade to replicate 100 puts? Use the binomial model with 1 period

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