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The following figure lists the prices of various IBM options.

Use the data in the figure to

calculate the payoff and the profits for investments in each of the following January 2012 expiration options, assuming that the stock price on the expiration date is


a. Call option, X = 160

b. Put option, X = 160

c. Call option, X = 165

d. Put option, X = 165

e. Call option, X = 170

f. Put option, X = 170

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