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Suppose a financial manager buys call options on 5 0 , 0 0 0 barrels of oil with an exercise price of $ 8 8

Suppose a financial manager buys call options on 50,000 barrels of oil with an exercise price of $88 per barrel. She simultaneously sells a put option on 50,000 barrels of oil with the same exercise price of $88 per barrel. Consider her gains and losses if oil prices are $80, $87, $88, $89, and $96.

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