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Suppose the market price of UWY stock at expiration is $32.84. Assume that both George and Julie are rational in the sense that if they could choose to exercise the option, then they would do so rationally. Assume that neither George nor Julie have any UWY stock at expiration, nor do they want to hold any UWY stock so that they will buy or sell stock before or after any trading by the option to return to their zero holding of stock UWY. State the net profit per share that Julie would make on this option (If Julie loses money, show it as a negative number). The "net" means taking into account the premium on the option.

Financial Management, Finance

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