The ABC Company expects stock prices to decrease. The current stock price is $96. The company purchases a put option, with exercise price of $93 and a premium of $3 per share. Just before the expiration, stock price rises to $91. Should the investor exercise the put option or not? What will the total payoff per share be? Do not exercise, total payoff = -$2 per share Do not exercise, total payoff = -$1 per share Exercise, total payoff = -$1 per share Exercise, total payoff = $1 per share Exercise, total payoff = $2 per share