单选题 An investor bought a 40 put on a stock trading at 43 for a premium of $1. What is the maximum gain on the put and the value of the put at expiration if the stock price is $41 ? Maximum Gain on Put Value of the Put at Expiration ①A. $39 $0 ②B. $4O $2 ③C. unlimited $1

A、

A. ①
B、

B. ②
C、

C. ③

【正确答案】 A

【答案解析】The maximum gain on a long put is the strike price minus the premium, 40 - 1 = $39. The value at expiration is zero because the put is out-of-the-money.