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  3. you currently have a position on a covered call. a

You currently have a position on a covered call. A covered call is a combination...

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Finance

You currently have a position on a covered call. A covered call is a combination of a long stock and a short call on the same stock. You purchased the stock at the price of $50 and short the call at the premium of $3. The call option has an exercise price of $55. If the stock price increases to $54, what is your net income?

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