Omega Limited, a gold manufacturer, hold a short put European option with an exercise price of $500 per ounce for 100 ounces only to be exercised in 6 months. The premium is $50 per ounce. If market gold price after 6 months is $700 per ounce, what would be the gain or loss assuming no time value of money."

"-$5,000"

"-$15,000"

"$15,000 "

"$5,000 "