You buy a September put on Google with a strike price of 1790 at a premium of 31.85. The current stock price is 1798. Prior to expiration, the stock goes to 1756 and the put goes to 37.50. You don't own the stock at present.

A. What is your HPR if you exercise the put?

B. What is your HPR if you just buy and sell the put?

C. What would be your HPR if you had just sold short the stock in the beginning and covered your position at the end? Assume an initial deposit of $15,000.