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Omega Limited, a gold manufacturer, hold a short put European option with an exercise price of $500 per ounce for 100 ounces only to be

Omega Limited, a gold manufacturer, hold a short put European option with an exercise price of $500 per ounce for 100 ounces only to be exercised in 6 months. The premium is $50 per ounce. If market gold price after 6 months is $700 per ounce.

What would be the gain or loss assuming no time value of money?

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