What is the total loss of the portfolio

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You currently have a portfolio worth $100,000. Suppose an at-the-money put option has a delta of -0.4. Suppose value of the portfolio drops by 6%. What is the total loss of the portfolio if you were able to use the put? If the put didn't exist, how could you replicate this outcome? Show your work. 

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Reference no: EM131482329

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