What is the cash settlement if a put futures option on 50 units of the underlying asset is exercised?

Select one:

a.

(Current Futures Price - Strike Price) times 50

b.

(Strike Price - Current Futures Price) times 50

c.

(Most Recent Futures Settlement Price - Strike Price) times 50

d.

(Strike Price - Most Recent Futures Settlement Price) times 50

Clear my choice