Tesla stock is currently trading at $650 and you are a strategic shareholder with a 5% stake in the company. You do not want to sell any shares, yet you are concerned about the immediate price action in the stock and you think it might take a big hit. You call your bank and agree to purchase a 3-month Put Option (this would be considered a protective Put) with a strike of $625 at a cost of $55 per option (the option is expensive because Tesla is a very volatile stock). Which of the following statements is correct? O At a share price of $600 at option expiry the Put is $50 in-the-money When the share price trades above $650 at option expiry you will be $55 worse off compared to not doing anything today At any share price below $650 at option expiry will you exercise the Put option At a share price of $700 at option expiry you will be $5 worse off compared to the scenario where you don't do anything today