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You manage a $17 million fund and would like to short index calls to generate an extra income for your fund. Suppose that the OEX

You manage a $17 million fund and would like to short index calls to generate an extra income for your fund. Suppose that the OEX 340 calls sells at $1.85 and the current level price of OEX is equal to 328. How much income can you generate at the maximum if your fund is managed 100% cash. Show formulas and all calculations.

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