Tim Purchased 3 Put Option Contracts on Western Fields Stock

question 73

Multiple Choice

Tim purchased 3 put option contracts on Western Fields stock. The strike price was $35 and the option premium was $0.60. 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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