Consider a stock priced at $33. There are put and call options available at exercise prices of 30 and a time to expiration of six months. The calls are priced at $2.39 and the puts cost $2.05. There are no dividends on the stock and the options are European. Assume that all transactions consist of 100 shares or one contract (100 options). Suppose the investor constructed a protective put. If the stock price goes up to $39 at expiration, what would be the investor's profit?

Select one:

a.

$600

b.

$239

c.

$695

d.

$229

e.

none of the answers given in other options