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Suppose you have $60,000 to invest. Youre considering Miller-Moore Equine Enterprises (MMEE), which is currently selling for $60 per share. You notice that a put

Suppose you have $60,000 to invest. Youre considering Miller-Moore Equine Enterprises (MMEE), which is currently selling for $60 per share. You notice that a put option with a $60 strike is available with a premium of $3.00. Calculate your percentage return on the put option for the 6-month holding period if the stock price declines to $57 per share.

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