When a Put Option Is Exercised, The

Multiple Choice

When a put option is exercised, the:

A) seller of the option receives the strike price.
B) seller of the option receives the option premium.
C) buyer of the option sells the underlying asset and receives the option premium.
D) buyer of the option pays the option premium and receives the underlying asset.
E) seller of the option must buy the underlying asset and pay the strike price.