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Suppose that a European call option to buy a share for $59.00 costs $3.00 and is held until maturity. Under what circumstances will the seller

Suppose that a European call option to buy a share for $59.00 costs $3.00 and is held until maturity. Under what circumstances will the seller of the option make a profit? Under what circumstances will the option be exercised? Draw a diagram illustrating how the profit from a long position in the option depends on the stock price at maturity of the option.

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