The stock of Global Consolidated Meganormo Corp. presently sells for $73 per share. You believe that the stock price is likely to drop, and so you buy a $60 put option for 500 shares. The option...

The stock of Global Consolidated Meganormo Corp.

presently sells for $73 per share. You believe that the stock

price is likely to drop, and so you buy a $60 put option for

500 shares. The option premium is $2. How will you make out

if the stock price drops to (a) $50 and (b) $60