Mr. Martin buys a put option to sell 100 shares. The strike price=$70; Current stock price=$65, price of the put option to sell one share=$7. At the time of the expiration of the put option, the share price is $72. What is the total gain or loss of Mr. Martin? Please show solution, thank you.

a) Loss $7

b) Loss $700

c) Gain $7

d) Gain $1300