Tim Purchased 5 Put Option Contracts on Western Fields Stock

question 66

Multiple Choice

Tim purchased 5 put option contracts on Western Fields stock. The strike price was $35 and the option premium was $.55. At expiration, the stock was selling for $35.75. What is the payoff on the option contracts?

• A)−$60
• B)−$30
• C)$0
• D)$30
• E)$60

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