What is the payoff for a put option with a strike price of $50 if the stock

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What is the payoff for a put option with a strike price of $50 if the stock price at expiration is $40? What if the stock price is $65?

Strike Price
In finance, the strike price of an option is the fixed price at which the owner of the option can buy, or sell, the underlying security or commodity.
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Fundamentals of corporate finance

ISBN: 978-0470876442

2nd Edition

Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates

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