Question: On May 20th, a trader buys two hundred December put options (= 2 option contracts) with a strike price of $20. The stock price is

On May 20th, a trader buys two hundred December put options (= 2 option contracts) with a strike price of $20. The stock price is $19.97 and the option price is $4.99.

At the expiration, the stock price becomes $18.04. What is the option profit to the trader?

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