Each put option has a strike price of 30 and a premium of, Financial Management

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Each put option has a strike price of 30 and a premium of

Assume you establish a protective put position on OVTI stock today by buying 100 shares of OVTI stock at $30 per share and buying a 6-month put option contract on the same stock. Each put option has a strike price of $30 and a premium of $2.50. What is the breakeven stock price for this strategy?

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