Question: A trader creates a bear spread by selling a six-month put option with a $25 strike price for $2.15 and buying a six-month put option
A trader creates a bear spread by selling a six-month put option with a $25 strike price for $2.15 and buying a six-month put option with a $29 strike price for $4.75. Find the payoff of the strategy if the stock price at the end of six months is $28
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