Which One of the Following Is Correct for the Owner

Multiple Choice

Which one of the following is correct for the owner of a September put, valued at $20, on CBA Corp. with a strike price of $80? CBA currently trades at $67.

A) The option will continue to gain value until its September expiration.
B) The owner profits $13 per share by exercising now.
C) Further decreases in the CBA stock price will be translated directly into additional option value.
D) $20 is the maximum value for this option.