You want to sell 1.2 million British pounds using put options and foreign exchange market. How much would be the net proceeds to sell GBP 1.2 million if the spot rate is A$1.5990 at the maturity (I.e after 4 months)

Contingency graph for purchasers Contingency graph for purchasers of British pound call options of British pound put options +A$0.06 Exercise price = A$1.50 +A$0.06 Exercise price = A$1.50 +A$0.04 - Premium = A$0.02 4A$0.04 Premium = A$0.03 +A$0.02 Future Spot Rate +A$0.02 Future spot rate Net profit per unit Net profit per Unit A$1.46 A$1.48 A$1 50/$1.52 A$1.54 A$1 46 ASM8AS1 50A$1.52 A$1 51 A$0.02 A$0.02 A$0.04 A$0.04 -A$0.06 A$0.06 Contingency graph for sellers of Contingency graph for sellers of British pound call options British pound put options +A$0.06 +A$0.06 Exercise price = A$1.50 Exercise price = A$1.50 4A$0.04 Premium = A$0.02 4A$0.04 Premium = A$0.03 4A$0.02 +AS0.02 Net profit per unit Net profit per unit A$1 46 A$1 48AS1 50 A$1.52A$1.54 AS46 A51,48 A$1 50 AS1.52 A$1.54 -A$0.02 -A$0.02 Future spot rate Future spot rate -A$0.04 -A$0.04 -A$0.06 -A$0.06