siavosh

Thanks to all you great guys that contributed to the questions but the suggestions to the second question are still not very convincing. First, like nevcfa1 earlier pointed out, the put I suppose is worthless as the price at expiration is higher than the exercise price. I tend to agree with nevcfa1 that the investor has profit from the purchase of the asset but then the next issue is how does the $14 profit from the asset translate to the price of the put?
ANS rightly observed that the break even point is X-p but the put should be worthless given that the price at expiration is higher than the exercise price. Any further take on this?