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The option will not be exercised until the expiration date

You purchase a call option on pounds for a premium of $0.01 per unit, with an exercise price of $1.62; the option will not be exercised until the expiration date, if at all. If the spot rate on the expiration date is $1.64, your net profit per unit is:

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Finance Basics: The option will not be exercised until the expiration date

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