At expiration a put option will have no value if the stock price is greater than the exercise price.

Question

Quizplus · Accepted Answer

A put option gives the holder the right to sell the underlying asset (in this case, the stock) at a fixed price (the exercise price) before expiration. If the stock price is greater than the exercise price, it would not make sense for the holder of the put option to sell the stock at a lower price, so the option would expire worthless.

At Expiration a Put Option Will Have No Value If