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Fances PLC

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › Fances PLC

  • This topic has 0 replies, 1 voice, and was last updated 7 years ago by jrede.
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  • October 13, 2017 at 6:40 pm #410841
    jrede
    Member
    • Topics: 7
    • Replies: 9
    • ☆

    The following options are held by Frances plc at their expiry date
    A call option on £500,000 in exchange for US$ at an exercise price of £1 = $1.90.

    The exchange rate at the expiry date is £1 = $1.95

    A put option on £400,000 in exchange for Singapore $ at an exercise price of £1=$2.90

    The exchange rate at the expiry date is £1 =$2.95

    Which one of the following combinations (exercise/lapse) should be undertaken by the company

    Call Put
    A. Exercise Lapse
    B. Exercise Exercise
    C. Lapse Exercise
    D. Lapse Lapse

    This question is quite confusing. I know the answer is A but I don’t understand which currency is the home country.

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