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You buy a put option on 100 shares of stock. The put has a premium (per share) of $0.29 and a strike/exercise price of $5.70.

You buy a put option on 100 shares of stock. The put has a premium (per share) of $0.29 and a strike/exercise price of $5.70. The stock currently has a price of $5.99 per share. On the day that the option expires, the stock is selling for $5.17. What ends up being your net payoff on this position?

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