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negative payoffs
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for a gap call option,if strike price X2 is greater than X1, and the stock price at maturity,St, St greater than the trigger price X2, then the payoff for the gap call option will be equal to St-X1, if the stock price St is less than or equal to X2, the payoff will be zero.Note that a negative payoff can occur if the stock price is greater than X2 and X2  is less than X1 , in this case, the payoff will be reduced by X2-X1.