Question: The ABC Company expects stock prices to decrease. The current stock price is $96. The company purchases a put option, with exercise price of $93

The ABC Company expects stock prices to decrease. The current stock price is $96. The company purchases a put option, with exercise price of $93 and a premium of $3 per share. What is the break-even price for the underlying stock at expiration?

$90 $91 $92 $93 $94

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