A put is currently being traded on an underlying security. An investor buys a put option for $7 per share. The strike price is $100 per share and the option expires in three months.

a) What is the prot of this trade per share if in three months the price of the

underlying security is $117 per share?

b) How does you answer to part a) change if the price of the underlying security in

three months is $99 per share?