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You buy a put option on 100 shares of stock. The put has a premium (per share) of $0.28 and a strike/exercise price of $5.40.

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You buy a put option on 100 shares of stock. The put has a premium (per share) of $0.28 and a strike/exercise price of $5.40. The stock currently has a price of $5.57 per share. On the day that the option expires, the stock is selling for $5.63. What ends up being your net payoff on this position? Answer: Check

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