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Suppose you purchase three put contracts (300 shares) on GE stock. The strike price or exercise price is $12 per share and the premium is

Suppose you purchase three put contracts (300 shares) on GE stock. The strike price or exercise price is $12 per share and the premium is $0.50 per share. If, at expiration, the stock is selling for $11 per share, what is your net profit or net loss?

$150

$300

$0.00

$450

-$150

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