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Christine buys 75 put options with a strike price of $28 and a premium of $4 per contract. If the market price equals $26 at

Christine buys 75 put options with a strike price of $28 and a premium of $4 per contract. If the market price equals $26 at expiration, calculate her profit/loss from this transaction.

1. $300

2. -$150

3. -$450

4. $250

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