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Assume that a trader writes five Sept calls with a strike price of 3900 and a premium of 120. How much would the trader gain

Assume that a trader writes five Sept calls with a strike price of 3900 and a premium of 120. How much would the trader gain (lose) on this strategy if the ASX200 index at the expiry of the options is 4200? The value of one index point is $25.

Group of answer choices

Loss of $18,750

Loss of $22,500

Gain of $22,500

Gain of $18,750

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