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What are the differences in the motivations for using a put option for the put buyer versus put writer (i.e. what does each hope will

  1. What are the differences in the motivations for using a put option for the put buyer versus put writer (i.e. what does each hope will happen)?
  2. What is the profit for a put option buyer where the premium is $3, strike price is $40, and final stock price is $35.
  3. What is the profit for a put option writer where the premium is $3, strike price is $40, and final stock price is $45.

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