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Consider a European put futures option on a commodity. The option maturity is in four month time. The exercise Price is $60, futures price is

Consider a European put futures option on a commodity. The option maturity is in four month time. The exercise Price is $60, futures price is $60, risk free rate is 9% p.a. with continuous compounding and the volatility on the futures is price is 25% p.a.. Explain in detail the value of the put option (assume interpolation process is involved)?

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