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An investor creates a covered call position by purchasing 100 shares of the Tesla stock at...

An investor creates a covered call position by purchasing 100 shares of the Tesla stock at a price of $340 per share and selling 100 call options on the Tesla stock with a strike price $340 per share. The premium of the option is $15 per share. At which stock price at the maturity of the option will the investor break even? Please provide your answer in unit of dollars, rounded to the nearest cent.

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solution: current stock price per share 340.00 Less : Premium received per share - 15.00 Break even stock price 325.00

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