An investor closed a short options trade out at a profit of 2.60. He initially collected 4.60 in premium by writing 2 calls and 1 put. If each call had a premium of 0.70, how much was the premium of the put?

Explanations

The amount of profit is irrelevant here. This is just a math question. He collected 4.60. 1.40 if it for the 2 calls (.70*2). Total premium collected was 4.60. 4.60 - 1.40 = 3.20. 3.20 is the premium he collected for the put.