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Purchasing four British pound put options with a strike price of $1.50 per . The premium is $0.05 per pound. The standard size of each

Purchasing four British pound put options with a strike price of $1.50 per . The premium is $0.05 per pound. The standard size of each option contract is 10,000 pounds.

What would be the profit if the pound depreciates to $1.20 per ?

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