explain the answer28 29 30 please Joe purchased a stock index fund at $1200 per share To protect his loss, he also purchased an at the money European put option the fund for $60 with three month time to expiration Sally purchased the stock index at the same time as Joe, but she purchased an European put option with strike price of S1170, which only costs $45 28 When would Joe be able to break even A) 1170 B) 1185 C) 1200 D) none of the above 29 When would Joe's and Sally's profits be the same A) 1170 B)1185 C)1200 D)none of the above 30 When would Sally out perform Joe A)when price is greater than 1170 B) when price is less than 1170 C) when price is greater than 1185 D)none of the above

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explain the answer28 29 30 please  Joe purchased a stock index fund at $1200 per share  To protect his loss, he also purchased an at the money European put option the fund for $60 with three month time to expiration  Sally purchased the stock index at the same time as Joe, but she purchased an European put option with strike price of S1170, which only costs $45  28  When would Joe be able to break even  A) 1170 B) 1185 C) 1200 D) none of the above 29  When would Joe's and Sally's profits be the same  A) 1170 B)1185 C)1200 D)none of the above 30  When would Sally out perform Joe  A)when price is greater than 1170 B) when price is less than 1170 C) when price is greater than 1185 D)none of the above

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explain the answer28 29 30 please! Joe purchased a stock index fund at $1200 per share. To protect his loss, he also purchased an at-the-money

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