A stock is trading at $70. You believe there is a 70% chance the price of the stock will increase by 10% over the next 3 months You believe there is a 10% chance the stock will drop by 10%, and you think there is only a 20% chance of a major drop in price of 40%. At-the-money 3-month puts are available at a cost of $850 per contract. What is the expected dollar profit for a writer of a naked put at the end of 3 months? Multiple Choice $1,950 $150 $0 $220.00