Question: You purchase one Microsoft November $280 put contract (X = $280) for a premium of $8 (P 0 = $8). What is your maximum possible

  1. You purchase one Microsoft November $280 put contract (X = $280) for a premium of $8 (P0 = $8).
  1. What is your maximum possible payout at expiration?
  2. What is your maximum possible profit at expiration?

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