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James sells 150 call options with a strike price of $59 and a premium of $2 per contract. If the market price equals $62 at

James sells 150 call options with a strike price of $59 and a premium of $2 per contract. If the market price equals $62 at expiration, calculate his profit/loss from this transaction.

1. -$150

2. $250

3. -$300

4. $450

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