Assume that eleven months ago you purchased stock in XYZ Company for $50 per share. The stock

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Assume that eleven months ago you purchased stock in XYZ Company for $50 per share. The stock price is now $72 a share but you would like to wait another month before selling the stock in order to pay a lower capital gains tax rate. Explain how you can use a put to protect yourself from this stock falling in value before your expected sale date.

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