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Suppose you buy a put option on Blake Plc on 3 1 st October April 2 0 2 2 . The option cost 4 ,

Suppose you buy a put option on Blake Plc on 31st October April 2022. The option cost
4, expires on 30th November 2022, and has an exercise price of 40. Explain the
circumstances in which you would/would not exercise the option.

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