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You purchase a six month $1.25 strike put option on the British pound for $0.12 per unitEach option contract covers 31,250 British pounds. On the

You purchase a six month $1.25 strike put option on the British pound for $0.12 per unitEach option contract covers 31,250 British pounds. On the expiration date , the spot rate for the british pound is $1.01 . assuming you are an astute investor what is your profit or loss on the put option

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