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You purchase a put option on British pounds for $.03 per unit. The exercise price is $1.36. A pound option represents 31,250 units. At the
You purchase a put option on British pounds for $.03 per unit. The exercise price is $1.36. A pound option represents 31,250 units. At the time of the purchase, the spot rate of the pound is $1.38 and rises to $1.45 by the expiration date. What is the highest net profit possible
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