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Grayson owns a stock that is currently trading for $37.20 per share. He is worried that the price might decrease so he just purchased a

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Grayson owns a stock that is currently trading for $37.20 per share. He is worried that the price might decrease so he just purchased a put option on the stock with an exercise price of $37. Which one of the following terms applies to this strategy? Multiple Choice Put-call parity Covered call Protective put Straddle Strangle

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