If you wanted to purchase the right to sell 2,000 shares of JC Penney stock in August 2008 at a strike price of $45 per share, how much would this cost you ...

The right to sell shares is a put option on the stock th ...

If you wanted to purchase the right to sell 2,000 shares of JC Penney stock in August

Question:

If you wanted to purchase the right to sell 2,000 shares of JC Penney stock in August 2008 at a of $45 per share, how much would this cost you?

Strike Price
In finance, the strike price of an option is the fixed price at which the owner of the option can buy, or sell, the underlying security or commodity.