You purchase a put option on a stock. The profit at maturity of the option is ___________ where X equals the option's strike price, S_T is the stock price at contract expiration and CP₀ is the original purchase price of the option.

A) Max(0, S_T - X) - CP₀

B) Max(0, X - S_T ) - CP₀

C) Max(0, X - S_T - CP₀)

D) Max(0, S_T - X - CP₀)

The maximum loss a seller of a stock put option can possibly suffer is the _________.

A) put premium

B) stock price at maturity

C) stock price at maturity minus the put premium

D) strike price minus the put premium