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Suppose that a call option to buy Euro for $1.3 costs $0.03 and is held until maturity. Under what circumstances will the holder of the

Suppose that a call option to buy Euro for $1.3 costs $0.03 and is held until maturity. Under what circumstances will the holder of the option make a profit? Under what circumstances will the option be exercised? Can the option be exercised and the holder makes a loss?

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