You Purchased 300 Shares of ABC Stock at a Price

Multiple Choice

You purchased 300 shares of ABC stock at a price of $34.20 a share. You then purchased put options on your shares with a strike price of $45 and an option premium of $1.10. At expiration, the stock was selling for $46.10 a share. What is your net profit or loss on these transactions assuming that you disposed of your shares on the expiration date?

A) $2,910
B) $3,180
C) $3,240
D) $3,680
E) $3,900