Three Months Ago,you Purchased Three Put Option Contracts on WXX

Three months ago,you purchased three put option contracts on WXX stock with a strike price of $60 and an option price of $.60.The option expires today when the value of WXX stock is $48.10.Ignoring trading costs and taxes,what is your total profit on your investment?

A) $180
B) $3,390
C) $60
D) $1,130
E) $1,090

Correct Answer:

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