Question: Puts. Raina bought a put option on a stock for $230. The put gives her the option to sell 100 shares of XYZ stock for

Puts. Raina bought a put option on a stock for $230.

Puts. Raina bought a put option on a stock for $230. The put gives her the option to sell 100 shares of XYZ stock for $45 a share if she exercises the option in the next ninety days. What is Raina's dollar return if she exercised her put when the stock price fell to $36 a share? Raina's dollar return is $ (Round to the nearest dollar.)

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