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QUESTION

Which of the following statements is true about the purchase of a protective put at a higher exercise price relative to a lower exercise price?

Which of the following statements is true about the purchase of a protective put at a higher exercise price relative to a lower exercise price?

a.    The breakeven is lower

b.    The maximum loss is greater

c.     The insurance is less costly

d.    The insurance is more costly

e.    None of the choices

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