Suppose the Stock Price Is $48, a Call Option Has

Suppose the stock price is $48, a call option has a strike price of $50 and a premium of $5, and a put option has a strike price of $45 and a premium of $2. Assume you currently hold no position. If you create a protective put position, what is the maximum possible loss and maximum possible gain per share at the expiration date?

A) Maximum Loss = $1, Maximum Gain = Unlimited
B) Maximum Loss = $5, Maximum Gain = Unlimited
C) Maximum Loss = $47, Maximum Gain = $1
D) Maximum Loss = $50, Maximum Gain = $5