Question: Suppose you purchase five put contracts on Testaburger Co. The strike price is $54, and the premium is $3. If, at expiration, the stock is

Suppose you purchase five put contracts on Testaburger Co. The strike price is $54, and the premium is $3. If, at expiration, the stock is selling for $47 per share, what are your put options worth? What is your net profit?

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