Stock price is going to decline from its current level

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Suppose you believe that Du Pont's stock price is going to decline from its current level of $ 80.28 sometime during the next 5 months. For $ 1,424.19 you could buy a 5-month put option giving you the right to sell 100 shares at a price of $ 87 per share. If you bought a 100-share contract for $ 1,424.19 and Du Pont's stock price actually changed to $ 65.48 , your net profit (or loss) after exercising the option would be ______? Show your answer to the nearest .01. Do not use $ or , signs in your answer. Use a - sign if you lose money on the contract.

Reference no: EM131886540

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