Suppose you buy a put option contract on october gold, Financial Management

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Suppose you buy a put option contract on october gold

Suppose you buy a put option contract on October gold futures with a strike price of $400 per ounce. Each contract is for the delivery of 100 ounces. What happens if you exercise when the October futures price is $377 and the most recent settlement price is $380?

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Financial Management: Suppose you buy a put option contract on october gold

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