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The price of a stock is $61. A put option on this stock has a strike price of $59.2 and is quoted at $2.8. You

The price of a stock is $61. A put option on this stock has a strike price of $59.2 and is quoted at $2.8.

You enter a short position in this put option. One option contracts covers 100 underlying shares.

The put option is exercised when the stock price is $53.6. Calculate the total net loss:

a.740

b.280

c.560

d.460

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