You enter a long position in a European-style call option which has a strike price of $23.
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Question:
You enter a long position in a European-style call option which has a strike price of $23. The option premium paid to enter this position is $3.5. At expiry, the underlying stock price is $25. What is your net payoff on this long call?
Select one:
-$1.5
-$3.5
+$5.5
+$2
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