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Man, those test proctors really come down hard on talking. I got kicked out for bellowing quietly in the corner and chewing on a test booklet.

Trading Options on Funds Drill

  • 1.

    A customer is long 100 shares of LMN at $45 and sells 1 LMN Aug 60 call at 2. Six months later, LMN is trading at $50 per share. If the customer sells the stock at the current market price and closes the option at 4, what is the gain or loss?

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