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The strike price of a European put option on Carlton, Ltd is $65. Assume you immediately buy one put option for $9. What will your

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The strike price of a European put option on Carlton, Ltd is $65. Assume you immediately buy one put option for $9. What will your payoff and profit be assuming Carlton's stock price on the expiration date is $49? Payoff = +$16.00 and profit = +$7.00 Payoff = - $16.00 and profit = -$7.00 Payoff = $0.00 and profit = - $9.00 Payoff = +$7.00 and profit = +$16.00 None of the above

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