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per share and 5 5 six - month European put options with an exercise price of $ 2 6 . Each put option costs $

per share and 55 six-month European put options with an exercise price of $26. Each put option costs $1.
(b) Discuss the value of the portfolio with and without the European put options.
The lower the stock price, th
options to the overall porttolio for stock prices of
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