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The price of a stock is $80. A trader buys 3 put option contracts on the stock with a strike price of $82 when the
The price of a stock is $80. A trader buys 3 put option contracts on the stock with a strike price of $82 when the option price is $6. The options are exercised when the stock price is $70. Assume that one option contract is written on 100 shares of the underlying stock. What is the traders net profit or loss
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