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You believe that oil prices will be rising more than expected, and that rising prices will result in lower eamings for industrial companies that use

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You believe that oil prices will be rising more than expected, and that rising prices will result in lower eamings for industrial companies that use a iot of pelroleum-eiated products in their operations. You also belleve that the effects on this sector will be magnified because consumer dectand will fall as ol prices rise. You locate an exchange traded fund, QLT, that represents a basket of industrial companies. You don't want to short the ETF because you domt hake enough margin in your account. QLT is currently trading at $32.35. You decide to buy a put option (lor 100 shares) with a strike price of 533.95 , priced at $2.20. it lums out that you are correct. At expiration, QLT is trading at 530:20. Calculate your profit. (Click on the icon here C in order to copy the contents of the data table below inte a spreadsheet. The profit of the trade before trading costs is 5 (Round to the nearest cent)

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