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A non-dividend paying stock X is trading at $109
A non-dividend paying stock X is trading at $109.Put options for 3 years maturity on the non-dividend paying stock X at a strike price of $103 and $124 cost $14 and $29 respectively.An investor decides to enter in a bull spread position for this stock for 3 years. Calculate undiscounted profit or loss of the investor at the end of the maturity if the terminal spot price of stock X turns out to be $114.
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