Jenny Purchased 2 Put Option Contracts on Winslow Mfg

question 40

Multiple Choice

Jenny purchased 2 put option contracts on Winslow Mfg.stock.The option premium was $0.80 and the strike price was $37.50.On the expiration date,the stock was selling for $38.00 a share.What is the total payoff on the option contracts?

• A) -$100
• B) -$50
• C) $0
• D) $50
• E) $150

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