Ahmad bought put options on Verizon with a strike price of $32. The option premium was $2.50. Just before the contract expired, Verizon stock was quoted at $30.50 per share. Ahmad: Select one: a. lost $0.50 per share b. lost $1.50 per share c. lost $2.50 per share becasue the option would not be exercised d. made a profit of $1.50 per share.