You purchase a put on ibm contract at 120 for a premium of, Finance Basics

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You purchase a put on ibm contract at 120 for a premium of

Question: You purchase a put on IBM contract at $120 for a premium of $3. You hold the option until expiration when share price is $123. What is the payout and the profit? Please plot a graph. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Finance Basics: You purchase a put on ibm contract at 120 for a premium of

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