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Pippy Patty is bullish on the British pound so she buys a one-month call for $.04. The strike price of the call is $1.29. On
Pippy Patty is bullish on the British pound so she buys a one-month call for $.04.
The strike price of the call is $1.29.
On the expiration day, the spot price of the British pound is $1.40.
Calculate the break-even price, the option payoff at expiration, and the net profit at expiration.
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