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Consider a European put futures options on crude oil. Time to the option's maturity is 4 months. Current futures price is 55, exercise price is

Consider a European put futures options on crude oil. Time to the option's

maturity is 4 months. Current futures price is 55, exercise price is 50.

Risk free rate is 5%, volatility of the futures price is 25% per annum.

Compute the option price using Black's model.

Do we need to know the maturity of the futures contract?

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