You Purchased 500 Shares of SLG, Inc

Multiple Choice

You purchased 500 shares of SLG, Inc., stock at a price of $43.70 a share. You then purchased put options on your shares with a strike price of $40.00 and an option premium of $.90. At expiration, the stock was selling for $47.80 a share. You sold your shares on the option expiration date. What is your net profit or loss on your transactions related to SLG, Inc., stock?

A) $1,650
B) $1,250
C) $1,600
D) $2,150
E) $2,300