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Mr . Johnson buys - to - open a 3 0 0 - strike SPY put for $ 7 8 6 , based on his

Mr $.$ Johnson buys $-$ to $-$ open a $300 -$ strike SPY put for $ $786,$ based on his bearish outlook. SPY closes at $294.63$ at expiry. What is Mr $.$ Johnsons overall profit or loss?

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Question

Mr . Johnson buys - to - open a 3 0 0 - strike SPY put for $ 7 8 6 , based on his

Mr. Johnson buys-to-open a 300-strike SPY put for $786, based on his bearish outlook. SPY closes at 294.63 at expiry. What is Mr. Johnsons overall profit or loss?

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Recommended Textbook for

Cost Management Accounting and Control

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Mr $.$ Johnson buys $-$ to $-$ open a $300 -$ strike SPY put for $ $786,$ based on his bearish outlook. SPY closes at $294.63$ at expiry. What is Mr $.$ Johnsons overall profit or loss?