You purchase 1 IBM Oct 165 put contract for a premium of $7.00. What is your max profit potential?

IBM (IBM) Underlying stock price: 166.76 Expiration strike Last Volume Open Interest Last Volume Open interest Sep 2011 160.00 9.15 796 4298 1835 2.62 1271 Oct 2011 160.001 1195 301 2369 535 296 7443 Jan 2012 160.00 15.00 101 9.40 102 Apr 2012 160.00 17.35 111 122 13.30 4920 Sep2011 165.00 5.80 1805 3542 410 1711 5085 Oct 2011 165.00 870 229 3866 7.00 131 2651 4045 10.85 Jan 2012 165.00 11.70 Apr 2012 165.00 14.30 58 781 54 Sep 2011 170.00 3.00 3053 1959 6.20 2744 12436 Oct 2011 170.00 5.86 457 7506 9.25 148 4584 6876 13.00 Jan 2012 170.00 893 Apr 2012 170.00 11.32 36 58 52 FIGURE 15.1 Options on IBM, August 24, 2011 Source: The Wall Street Journal Online August 25, 2011. Reprinted by permission of The Wall Street Journal, Copright C2011 Dow Jones & Company, Inc. All Rights Reserved Worldwide