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Let S 0 denote the spot price of a stock, which after one-time step T will be either S 0 u or S 0 d

Let S₀ denote the spot price of a stock, which after one-time step T will be either S₀u or S₀d with u > d. Let r be the risk-free rate. Suppose d > e^rT. Construct an arbitrage opportunity involving one share of stock and some cash. What is the minimum guaranteed profit of this strategy?

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