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Suppose you devise a protective put strategy with a 3-month put with a premium of $5 and a strike of $24. When you implemented the

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Suppose you devise a protective put strategy with a 3-month put with a premium of $5 and a strike of $24. When you implemented the strategy the stock price was $27. Assume the stock price trades at $21 at expiration. What must be the profit on the overall protective put at expiration

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