A Stock Is Currently Trading at $50 $- 16.67 \%$ B) $0 \%$

Multiple Choice

A stock is currently trading at $50. A one-year at-the-money put costs $10. The stock price at the end of one year can be equally likely to be one of the following three values: {20, 50, 80}. What is the expected one-year return of a protective put portfolio?

A) $- 16.67 \%$
B) $0 \%$
C) $+ 16.67 \%$
D) $+ 50 \%$