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1. Sam purchased 5 put options on Atlas Co. stock with a strike price of $61.50 for a premium of $3.75. On the expiration date,

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1. Sam purchased 5 put options on Atlas Co. stock with a strike price of $61.50 for a premium of $3.75. On the expiration date, the stock was priced at $58.65 a share. What is the net payoff on the 5 option contracts? (note: there are 100 shares per contract) A. $1,875 B. $1,425 C. $450 D. $450 E. $1,425 F. $1,875

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