You Sold Ten Put Option Contracts on PLT Stock with an Exercise

Multiple Choice

You sold ten put option contracts on PLT stock with an exercise price of $32.50 and an option price of $1.10. Today,the option expires and the underlying stock is selling for $34.30 a share. Ignoring trading costs and taxes,what is your total profit or loss on this investment?

A) -$2,900
B) -$1,100
C) $700
D) $1,100
E) $2,900