You sold (wrote) an August American put option on GameStop stock with an exercise price of $20. Which of the following statements is true?

You are obligated to buy GameStop shares at $20 when the option expires in August, regardless of the stock's market price.

You are obligated to buy GameStop shares for $20 at any time prior to the option expiration in August, if the owner of the option chooses to exercise.

You have the right to sell GameStop shares for $20 at any time prior to the option expiration in August, regardless of the stock's market price.

You have the right to buy GameStop shares for $20 at any time prior to the option expiration in August, regardless of the stock's market price.

You are obligated to sell GameStop shares at $20 when the option expires in August, regardless of the stock's market price.

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You own 8 put option contracts on Joom Co. stock with an exercise price of $24.50. What is the intrinsic value of your investment if Joom Co. stock is currently selling for $22.80 a share?

-$1,760.00

$0

$1,360.00

-$1,360.00

$1,760.00

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Two months ago you bought 15 call option contracts at an option price of $0.85. The stock price last month was $80.00. The strike price is $82.00. Current stock price is $86.00. The option expires today. What is your profit or loss?

$4,725.00

$1,725.00

$225.00

$3,225.00

-$1,275.00