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On the expiration date for a put option with strike price of $10.00, premium $1.50 and the current spot price of $8.00, the holder will:

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On the expiration date for a put option with strike price of $10.00, premium $1.50 and the current spot price of $8.00, the holder will: Select one: a. buy the shares in the market place. O b. let the option contract lapse. O c. exercise the option. d. make a profit of $1.50

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