Arthur Doyle is a currency trader for Baker Street, a private investment house in London. Baker Street's clients are a collection of wealthy private investors who, with a minimum stake of pound 240 comma 000 each, wish to speculate on the movement of currencies. The investors expect annual returns in excess of 25%. Although officed in London, all accounts and expectations are based in U.S. dollars. Arthur is convinced that the British pound will slide significantly long dash possibly to $ 1.3200 divided by pound long dashin the coming 30 to 60 days. The current spot rate is $ 1.4263 divided by pound. Arthur wishes to buy a put on pounds which will yield the 25% return expected by his investors. Which of the following put options, , would you recommend he purchase? Prove your choice is the preferable combination of strike price, maturity, and up-front premium expense.

The return on investment (ROI) at the strike price of $1.361.36/pound is %