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Assume a speculator purchased a call option on British pounds for $0.02 per unit. The strike price was $1.45 and the spot rate at the
Assume a speculator purchased a call option on British pounds for $0.02 per unit. The strike price was $1.45 and the spot rate at the time the pound was exercised was $1.48. Assume there are 31,250 units in a British pound option. What is the net profit on this option to the speculator?
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