You purchased two (2) put option contracts on AAA stock with a strike price of $50 and an option price of $1.20. The option expires today when the value of WXX stock is $45. Ignoring trading costs and taxes, what is your total profit on your investment?

$1,000

$760

-$240

You purchased three (3) put option contracts on BBB stock with a strike price of $60 and an option price of $0.60. The option expires today when the value of WXX stock is $48.10. Ignoring trading costs and taxes, what is your total profit on your investment?

$3,390

$3,570

-$180