One month ago you purchased a put option on the S&P 500 Index with an exercise price of $920.00. Today is the expiration date, and the index is at $905.46.
a. Will you exercise the option?
(Click to select)Yes No
b. What will be your payoff? (Enter “0” if there is no profit or return from not exercising the option. Round your answer to 2 decimal places.)
payoff $