A trader has a put option contract to sell 100 shares of a stock for a strike price of $60.

What is the effect on the terms of the contract of:

(a) A $2 dividend being declared

(b) A $2 dividend being paid

(c) A 5-for-2 stock split

(d) A 5% stock dividend being paid.

(a) No effect

(b) No effect

(c) The put option contract gives the right to sell 250 shares for $24 each

(d) The put option contract gives the right to sell 105 shares for 60/1.05 = $57.14

I understand C and D. However, for A and B, can you explain to me in detail why a $2 dividend being declared & $2 dividend being paid has no effect on a put option contract to sell 100 shares of a stock for a strike price of $60?