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The price of a stock is $67. A trader sells 5 put options on the stock with a strike price of $70 when the option
The price of a stock is $67. A trader sells 5 put options on the stock with a strike price of $70 when the option price is $9. Assume that the underlying asset for each put option is one share of the stock. The options are exercised when the stock price is $61. What is the traders net profit or loss? Round your answers to the nearest integer (i.e., no decimals).
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