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P16-3 Stock Price to Profit You buy an at the money March call option on MNM Corp. common stock, which has a strike price of

P16-3 Stock Price to Profit

You buy an "at the money" March call option on MNM Corp. common stock, which has a strike price of $30 and a premium of $5. What must happen to the price of MNM Corp. stock for you to make a profit?

Note: To earn a profit, the stock must be worth more than what you pay for it in total using the option

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