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You buy a call option with a strike price of 1.20 dollar/pound. You pay .05 for this option (premium). At maturity, the dollar/pound rate is

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You buy a call option with a strike price of 1.20 dollar/pound. You pay .05 for this option (premium). At maturity, the dollar/pound rate is 1.15 . What is a) payoff (intrinsic value) of the option b) overall profit. 2. Suppose you buy three June PHLX call options with a 90 strike price at a price of 2.3(/). a. What would be your total dollar cost for these calls, ignoring broker fees

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