Suppose that the Dow Jones Industrial Average is above the 20,000 level. If the Dow were to
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Suppose that the Dow Jones Industrial Average is above the 20,000 level. If the Dow were to fall to 17,000, who would gain the most: investors who had bought call options, investors who had sold call options, investors who had bought put options, or investors who had sold put options? Who would be hurt the most?
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Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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