You Are a Speculator Who Sells a Put Option on Canadian

question 7

Multiple Choice

You are a speculator who sells a put option on Canadian dollars for a premium of $.03 per unit, with an exercise price of $.86. The option will not be exercised until the expiration date, if at all. If the spot rate of the Canadian dollar is $.78 on the expiration date, your net profit per unit is:

• A)-$.08.
• B)-$.03.
• C)$.05.
• D)$.08.
• E)none of the above

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