Mr. Amrish is bearish on the stock of ABCL corporation. Therefore, he purchases five put option contracts on ABCL shares for a premium of Rs.3. The exercise price is Rs.41 and it has a maturity period of three months. The current market price of the stock is Rs. 40. The market lot is 100. If Mr. Ambrish is correct and ABCL’s price fall to Rs.30 , how much profit will he earn over a three-month period?
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