If an Investor Buys a 100-Share Put Option for $150

Multiple Choice

If an investor buys a 100-share put option for $150 with an exercise price of $38 and the underlying price per share of the stock at expiration is $39, what is the amount of profit or loss, ignoring brokerage fees?

A) There would be a profit of $250.
B) There would be a profit of $150.
C) There would be a loss of $250.
D) There would be a loss of $150.