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Jason bought a put option on a $100,000 Treasury bond futures contract with an exercise price of 105 for a premium of $2,000. If on

Jason bought a put option on a $100,000 Treasury bond futures contract with an exercise price of 105 for a premium of $2,000. If on expiration the futures contract sells for 110, determine Jason's profits and explain if he will exercise the right to sell the futures contract. How would your answer change if the futures contract sells for 95 on expiration?

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