Question: Faroon Mive buys 3 put option contracts, where the contract size is 100 Dell stocks, with a strike. price of $588 at a quoted

Faroon Mive buys 3 put option contracts, where the contract size is

Faroon Mive buys 3 put option contracts, where the contract size is 100 Dell stocks, with a strike. price of $588 at a quoted price of $4.75. At option expiration, these stock sell for $625. What is the net profit on the transaction? $9,675 Loss $3,225 Gain $1,425 Loss $9,675 Gain

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