You Purchased Six Put Option Contracts with a Strike Price

Multiple Choice

You purchased six put option contracts with a strike price of $45 and a premium of $1.10. What is the total net amount you will receive for your shares if you exercise this contract when the underlying stock is selling for $42.90 a share?

A) $23,660
B) $24,700
C) $25,740
D) $26,340
E) $26,400