QUESTION 25

The price of a TSLA is $185. A trader sells seven put option contracts on the stock with a strike price of $180 at an option price is $2.75. The option buyer exercises the put when the stock price is $177. What is the put seller's net profit or loss? Assume each option contract is for 100 shares of TSLA.

Enter your answer in whole numbers, i.e., enter 150 as 150. You need to use a negative sign if you calculated a loss.