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6.6. The futures price of a commodity is $90. Use a three-step tree to value (a)...

6.6. The futures price of a commodity is $90. Use a three-step tree to value (a) a nine-month American call option with strike price $93 and (b) a nine-month American put option with strike price $93. The volatility is 28% and the risk-free rate (all maturities) is 3% with continuous compounding

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