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PAY SPREAD CLOSED OUT

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PAY spread closed out.

PAY NOV 30 stopped out for DEBIT of $1.50 and PAY NOV 35 sold to close for a

CREDIT of $0.05 for NET DEBIT of $1.45. Now subtracting the original CREDIT of $0.35 we received , we have a NET LOSS of $1.10 for the PAY spread.

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