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For this and next three questions, assume: You bought Stock A at a purchase price of: $40 Put option strike price: $40 Option expires in

For this and next three questions, assume:

You bought Stock A at a purchase price of: $40 Put option strike price: $40 Option expires in 90 days Price of put option: $8

Return (%) = 100 * (payoff purchase cost)/purchase cost

Express as positive or negative percent to nearest whole percent, e.g. -100% = -100

You bought only the put option, and not the stock.

What is the return on the put option (%) if you sell it when the stock goes up to 55?

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