The price of a stock is $67. A trader sells 5 put option contracts (each contract has 100 shares of underlying stocks.) on the stock with a strike price of $70 when the option price is $4. The options are exercised when the stock price is $66. What is the traders net profit or loss?

Select one:

a. $0

b. Gain of $1,500

c. Loss of $1,500

d. Loss of $500