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A speculator purchases a put option for a premium of $2.75, with an exercise price of...

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Finance

A speculator purchases a put option for a premium of $2.75,with an exercise price of $70. The stock is presently priced at$69, and rises to $82 before the expiration date. What is the stockprice at which the speculator would break even?

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A speculator purchases a put option for a premium of $2.75,with an exercise price of $70. The stock is presently priced at$69, and rises to $82 before the expiration date. What is the stockprice at which the speculator would break even?

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