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Use the following information to answer questions 1 7 - 2 0 . It is January 2 n d , and you have $ 6

Use the following information to answer questions 17-20.
It is January 2nd, and you have $6,000 in the bank. You'd like to invest this money into the stock market.
Zebra Corp. (AC) is currently trading at $20. The ZC June 22 call option contract is currently priced at $2.00.
You decided to make a direct investment in 200ZC shares (purchased) at a price of $20 per share.
Question: Assume that the delta on ZC's put option contract is -.50, that you wanted to hedge your entire ZC position, and that the ZC put option was trading at $1.00, what would be your total return on your ZC position, if you entered into a delta hedge and later sold your shares at $27?
a.130%
b.70%
c.10%
d.29%
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