You Own 200 Shares of Delta Stock Which Is Currently

You own 200 shares of Delta stock which is currently worth $33 a share.You just paid an option premium of $0.55 to buy two put contracts on this stock with a strike price of $30.What is the maximum loss per share you are avoiding by purchasing the option contract?

A) $30.00
B) $30.85
C) $32.15
D) $33.00
E) $33.85