Erin Wrote a Put Option on Wesfarmers Shares with a Striking

question 33

Multiple Choice

Erin wrote a put option on Wesfarmers shares with a striking price of $53 price per share.At the expiration date,Wesfarmers was selling for $50 per share.Which statement best describes the course of action that Erin should or must take?

• A)Erin will do nothing because the market price is lower than the striking price.
• B)Erin is obliged to buy the Wesfarmers shares at $53,even though the market price is $3.00 lower.
• C)Erin must sell the Wesfarmers shares for $53 per share.
• D)Erin has the right to sell Wesfarmers shares at $3.00 per share over the market price.

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