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Billy Baggins is bearish on the British pound so he sells a one-month call for $.04. The strike price of the call is $1.25. On

Billy Baggins is bearish on the British pound so he sells a one-month call for $.04.

The strike price of the call is $1.25.

On the expiration date, the spot price of the British pound is $1.30.

What is the profit for Billy Baggins (per unit)?

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