Suppose that on May 10, you sold one contract (for 100 shares) of Nov-$12 Westpac put options. At that time, the price of a Westpac share was $11.50 and the price of the put opiton on the Australia Stock Exchange (ASX) was $0.84. It is now Nov 10, which is the maturity date for Nov options, and the Westpac stock price is $13. Will the option be exercised and, regardless, what is the payoff and profit from the option contract? 

Draw the profit diagram for your option position, and identify the profit on the diagram. Make sure you label all the axes.