You purchase 8 put option contracts on HSB Industries. The strike price was $45 and...
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You purchase 8 put option contracts on HSB Industries. The strike price was $45 and the option premium was $1.08. On the expiration date, the stock was valued at $46.23 a share. What is your payoff on the option contracts? Answer should be formatted as a number with 2 decimal places (e.g. 99.99).
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