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You long one IBM July 2021 155 put for a premium of $6.32/share. If you hold the option to the expiration date when IBM stock
You long one IBM July 2021 155 put for a premium of $6.32/share. If you hold the option to the expiration date when IBM stock sells for $153.22 per share. (1) How much is the payoff and profit/loss? (2) What is the breakeven point? (3) Draw a complete payoff and profit/loss diagram.
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