Jim is a speculator. He buys a British pound put option with a strike of $1.4 and a December settlement date. Current spot price as of that date is $1.39. He pays a premium of $0.10 per unit for the call option. Just before the expiration date, the spot rate of the British pound is $1.20. At that time, he exercises the put option and buys the pounds at the spot rate from a bank One option contract specifies 31,250 units. What is Jim's profit or loss? Assume Linda is the seller of the put option. What is Linda's profit or loss? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)