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Raquel owns a stock that is currently valued at $45.80 a share. She is concerned...

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Question

Finance

Raquel owns a stock that is currently valued at $45.80 a share. She is concerned that the stock price may decline so she just purchased a put option on
the stock with an exercise price of $45. Which one of the following terms applies to this strategy?
Multiple Choice
Put-call parity
Covered call
Protective put
Straddle
Strangle
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