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You buy a put option with a strike price of $70 per underlying. If the price of the underlying at option expiration is $80, which

You buy a put option with a strike price of $70 per underlying. If the price of the underlying at option expiration is $80, which of the following is correct?

A

The option is exercised and your payoff is $10 (positive) per underlying

B

The option is exercised and your payoff is -$10 (negative) per underlying

C

The option is NOT exercised and your payoff is $10 (positive) per underlying

D

The option is NOT exercised and your payoff is $0 per underlying

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