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QUESTION 5 You purchased five MGM call option contracts with a strike price of $47 when the option was quoted at $2. The option expires today when…

QUESTION 5

  1. You purchased five MGM call option contracts with a strike price of $47 when the option was quoted at $2.29. The option expires today when the value of MGM stock is $48.63. Ignoring trading costs and taxes, what is your total profit or loss on your investment? 

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