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Problem 23-04 Put and Call Payoffs [LO4] Suppose a financial manager buys call options on 25,000 barrels of oil with an exercise price of

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Problem 23-04 Put and Call Payoffs [LO4] Suppose a financial manager buys call options on 25,000 barrels of oil with an exercise price of $98 per barrel. She simultaneously sells a put option on 25,000 barrels of oil with the same exercise price of $98 per barrel. What are her payoffs per barrel if oil prices are $81, $93, $98, $115, and $103? (Leave no cells blank - be certain to enter "O" wherever required. A negative answer should be indicated by a minus sign.) Market price Payoffs per barrel 81 $ 93 $ 98 $ 115 $ 103 $ -5 $ 0

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