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Fundamentals of Futures and Options Markets,8th Edition's Question Assume six-month f orward price of XYZ stock is $58 . The stock pays no dividends. The

Fundamentals of Futures and Options Markets,8th Edition's Question

Assume six-month forward price of XYZ stock is $58. The stock pays no dividends. The six-month continuously compounded rate of interest is 4%. If the price of a put option is $3 what will be the maximum possible exercise price X that is consistent within no arbitrage context?

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