Question: Consider a four-month put futures option with a strike price of 50 when the risk-free interest rate is 10% per annum. The current futures price

Consider a four-month put futures option with a of 50 when the risk-free interest rate is 10% per annum. The current futures price is 47. What is a lower bound for the value of the futures option if it is
(a) European
(b) American?

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