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Suppose you own 520 shares of stock currently selling for $35 per share and want to hedge by purchasing put options. A put option is
Suppose you own 520 shares of stock currently selling for $35 per share and want to hedge by purchasing put options. A put option is available today on the stock and has a premium of $8 and a delta of -0.4. At the termination of the hedge, the stock is worth $26, and the put is worth $17. Calculate the total hedge profit. Enter your answer rounded to the nearest integer.
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