The Price of a Stock Is $67

Multiple Choice

The price of a stock is $67.A trader sells 5 put option contracts on the stock with a strike price of $70 when the option price is $4.The options are exercised when the stock price is $69.What is the trader's net profit or loss?

A) Loss of $1,500
B) Loss of $500
C) Gain of $1,500
D) Loss of $1,000