You Sold Ten Put Contracts on Cross Town Bank Stock

You sold ten put contracts on Cross Town Bank stock at an option price per share of $0.85. The options have an exercise price of $37.50 per share. The options were exercised today when the stock price was $34 a share. What is your net profit or loss on this investment assuming that you closed out your positions at a stock price of $34? Ignore transaction costs and taxes.

A) -$3,500
B) -$2,650
C) $1,800
D) $850
E) $3,500