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The put premium on your put option is $2.50 and the strike price is $35. Calculate the gain or loss if the underlying stock is

The put premium on your put option is $2.50 and the strike price is $35. Calculate the gain or loss if the underlying stock is $31.5.

Gain $3.50

Gain $1

Loss $2.50

Loss $3.50

None of the above.

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