Question 7 (1 point) You sold twenty put contracts on Twin City stock at an option premium of $.90. The options have an exercise price of $27.50. The options were exercised today when the stock price was $22.40 a share. What is your net profit or loss on this investment assuming that you closed out your positions at a stock price of $22.40? Ignore transaction costs and taxes. $8,400 -$8,400 $12,000 $1,800 -$12,000