You own a put option on stock ABC. ABC is approaching its quarterly earnings release,...

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Finance

You own a put option on stock ABC. ABC is approaching its quarterly earnings release, and the market is expecting increased volatility for the stock as the release approaches. Assuming the price of the underlying stock has remained the same, what has most likely happened to the value of your option?

it has likely increased

it has likely decreased

it has likely remained the same

it is likely very volatile itself

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