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The payoff of a put option at expiration is: a) Max [0, S(T) - X] b) Max [0, X - S(T)] c) Min [0, S(T)

The payoff of a put option at expiration is:

a) Max [0, S(T) - X]

b) Max [0, X - S(T)]

c) Min [0, S(T) - X]

d) Min [0, X - S(T)]

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