You purchased 500 shares of SLG, Inc., stock at a price of $43.70 a share. You then purchased put options on your shares with a strike price of $40.00 and an option premium of $.90. At expiration, the stock was selling for $47.80 a share. You sold your shares on the option expiration date. What is your net profit or loss on your transactions related to SLG, Inc., stock?
A)$1,650
B)$1,250
C)$1,600
D)$2,150
E)$2,300

Question

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The Answer of You purchased 500 shares of SLG, Inc., stock at a price of $43.70 a share. You then purchased put options on your shares with a strike price of $40.00 and an option premium of $.90. At expiration, the stock was selling for $47.80 a share. You sold your shares on the option expiration date. What is your net profit or loss on your transactions related to SLG, Inc., stock?
A)$1,650
B)$1,250
C)$1,600
D)$2,150
E)$2,300

You Purchased 500 Shares of SLG, Inc