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Profit/loss on a call - Example . Consider a January 2010 call on IBM with an exercise price of $195, selling on December 2, for

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Profit/loss on a call - Example . Consider a January 2010 call on IBM with an exercise price of $195, selling on December 2, for $1.65. Suppose IBM's price at expiration is $198. What is the value of the call contract at expiration? What is investor's profit? What would have been investor's profit if the option selling price would have been on December 2, $3.65

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