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Consider a 3 - month option on 1 5 0 , 0 0 0 with an exercise price of $ 1 . 0 7 /

Consider a 3-month option on 150,000 with an exercise price of $1.07/ and a premium of $.03 per pound. From the buyer's perspective, a put option will be in-the-money at maturity if the spot rate in 3 months is _____.
Question 6 options:
$1.06/
$1.05/
$1.03/
All of the above.
None of the above

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