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    GARP.2011.PQ.P1 FRM 2011 Practice exam part 1/exam 2 question 25 (garp11-p1-25)

    The question stated that: "theta is always negative for long calls and long puts and positive for short calls and short puts" The answer sheet indicated that this statement is correct. However, the review book clearly states ( page 342) that isn't true in some cases for European options...
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