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You bought one share of GE for $22.05. You want to hedge this position by buying a put option with a $20 strike price. This

You bought one share of GE for $22.05. You want to hedge this position by buying a put option with a $20 strike price. This option is selling for $4.10. What is your profit if at expiration the stock is trading at $31?

ANSWER: $4.35

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