Question: Two put options on the same underlying, both expiring in 1 month. Put option 1 struck at $50 is priced at $5 while put

Two put options on the same underlying, both expiring in 1 month.

Two put options on the same underlying, both expiring in 1 month. Put option 1 struck at $50 is priced at $5 while put option 2 struck at $53 priced at $3. Is there an arbitrage opportunity in this setting? If so, show how to take the advantage. For simplicity, interest rate is assumed zero.

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