The current spot exchange rate is $1.55 = 1.00 and the three-month forward rate is $1.51 = 1.00. You buy a put option on 62,500 with a strike price of $1.59 = 1.00 and pay an option premium (price) of $0.05 per euro. If the exchange rate at expiration is $1.41 = 1.00, what is your profit or loss from the option position? loss of $11,250 gain of $625 gain of $8,125 gain of $11,250 loss of $625 loss of $8,125