This Morning, Krystal Purchased Shares of Global Markets Stock at a Cost

This morning, Krystal purchased shares of Global Markets stock at a cost of $39.40 per share. She simultaneously purchased puts on Global Markets stock at a cost of $1.25 per share and a strike price of $40 per share. The put expires in one year. How much profit will she earn per share on these transactions if the stock is worth $38 a share one year from now?

A) -$2.65
B) -$1.25
C) -$0.65
D) $0.60
E) $1.25