Apple currently trades at $584.

You can buy a 3-month put option on Apple stock with a strike price of $579 for $32.5. How much do you have to pay to establish a protective put position for a single unit?

In reality, you cannot buy a single option, only an option contract. According to the CBOE website, how many shares of the underlying stock are covered by 1 option contract for equity options?

From now on, assume you bought 1 put option contract (and no stocks). What is the option payoff at expiration if the stock price has risen to $586?

What is the option payoff at expiration if the stock price has fallen to $570?

What is your total profit with a stock price of $570?