Suppose you own a put option that gives you the right to sell 200 shares of MMM Construction to another investor for $25 per share anytime during the next six months. MMMs stock currently sells for $26 per share. a) Should you exercise the option and sell the stock to the option writer (seller) if the stock price stays at $26 per share? b) Should you exercise the option if the stocks price increases to $28? What would be your gain (loss) if you bought the stock at $28 and then exercised the option? c) Should you exercise the option if the stocks price decreases to $23? What would be your gain (loss) if you bought the stock at $23 and then exercised the option? I need an explanation on how you got the answers and the steps if there are any. Thank you.