The spot price of the market index is $900. After 3 months the market index is priced at $920. The annual rate of interest on treasuries is 2.4%(0.2% per month). The premium on the long put, with an exercise price of $930, is $8.00. What is the profit or loss at expiration for the long put? \begin{tabular}{|l} $2.00 gain \\ $2.00 loss \\ $1.95 loss \end{tabular} $1.95 gain Question 3 (5 points) Saved A put option was purchased and held for 1 year. The Exercise price on the underlying asset is $40. If the price of the asset is $36.45 at the end of 1 year and the future value of the original option premium is $1.62, what is the put profit, if any? $3.55 $5.17 $1.93 $1.62