The price of a stock on February 1 is $124. A trader sells 200 put options on the stock with a strike price of $120 when the option price is $5. The options are exercised when the stock price is $113. The trader's net profit or loss is:

Question 2 options:

a)	Gain of $2,200

b)	Gain of $400

c)	Loss of $2,800

d)	Loss of $400