???

AXP is trading at $63.25:In this case, since the market price is below the strike price, the put option will be exercised, and you'll be obligated to buy 300 shares of AXP at the strike price of $70.00 per share.To calculate the profit or loss, we first determine the cost of purchasing 300 shares at the strike price:Cost = 300 shares * $70.00 per share = $21,000Since you bought the shares at $70.00 each, but the market price is $63.25, you incur a loss per share of:Loss per share = $70.00 - $63.25 = $6.75Now, multiply the loss per share by the number of shares purchased to find the total loss:Total Loss = Loss per share * 300 shares = $6.75 * 300 = $2,025Therefore, in this scenario, the total loss from exercising the put option would be $2,025.ChatGPTYour calculation seems correct. Exercising the put option would result in a total loss of $2,025