Question: Amy sold one put on ABC stock at an exercise price of $20 for $1.20 a share ($120 per contract) when the stock was trading

Amy sold one put on ABC stock at an exercise price of $20 for $1.20 a share ($120 per contract) when the stock was trading at $26. She also owned 100 shares of ABC stock for which she paid $30 per share. If at option expiration she sold her ABC position for $20 per share, how much was Amy's net (total) loss?

$1,000 loss

$880 loss

$1,120 loss

$720 loss

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