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The price of a stock on July 1 is $57. A trader buys 100 call options (that is, one standard call option on 100 shares)
The price of a stock on July 1 is $57. A trader buys 100 call options (that is, one standard call option on 100 shares) on the stock with a strike price of $60 when the option price is $3. The options are exercised when the stock price is $69. The trader's net profit is
a. $300
b. $500
c. $600
d. $700
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