Assume that a speculator purchases a put option on British pounds (with a strike price of $1.55) for $.03 per unit. A pound option represents 50,000 units. Assume that at the time of expiration the pound rises to $1.62. The net profit possible for the speculator based on the information above is: O a. $5000.00. O b. $1500.00 O c. -$5000.00 O d. -$1,500.00 S m 1 Se ch ea 1:

Assume that a speculator purchases a put option on British pounds (with a strike price of $1.55 ) for $.03 per unit. A pound option represents 50,000 units. Assume that at the time of expiration the pound rises to $1.62. The net profit possible for the speculator based on the information above is: a. $5000.00. b. $1500.00 c. $5000.00 d. $1,500.00