You have purchased a put option on Pfizer common stock. The option has an exercise price of $51 and Pfizers stock currently trades at $53. The option premium is $0.45 per contract. a. What is your net profit on the option if Pfizers stock price falls to $39 and you exercise the option? b. What is your net profit on the option if Pfizers stock price rises to $67 and you exercise the option?