On July 14, an investor goes short on a put option for 100 shares of ABC Corporation common stock with a strike price of ₱9 with an expiration date of August 16, at an option premium of ₱1.50 per...

On July 14, an investor goes short on a put option for 100 shares of ABC Corporation common stock with a strike price of ₱9 with an expiration date of August 16, at an option premium of ₱1.50 per share. The market price of ABC on July 14 is ₱8. On August 16, the market price of ABC is ₱11. How much has the investor gained or lost on the option transaction? Disregard any brokerage commissions involved.