der's net payoff is a of an amount of if he buys 100 pean put options on the pound maturing in 6 months. The option premium is $0.02 per nd, the strike price is $1.977 per pound and the contract size is GBP31,250. At maturity the clement price is $1.946 per pound. a. gain; S-96875 b. loss, $-159375 c. loss; $34375 d. None of the answers are correct. Next page