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Tom Gettback buys 100 shares of Johnson Walker stock for $90.00 per share and a 3-month Johnson Walker put option with an exercise price of
Tom Gettback buys 100 shares of Johnson Walker stock for $90.00 per share and a 3-month Johnson Walker put option with an exercise price of $105.00 for $2.00. What is his dollar gain if at expiration the stock is selling for $75.00 per share? a. $200 loss. b. $700 loss. c. $300 gain. d. $900 gain. e. None of the above
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