### Comment:
I see, but if it expires at 1597, wouldn't the buyer of my put sell exercise and thus I would have to buy 100 shares at 1600? I guess I'm not seeing how my long put which expired worthless is able to cover me such that I only have to pay $200 instead of 160000+

### REPLY:
Yes, you would buy them at 1600 and sell them at 1597, so you’re out $300, I had it backward in last reply.  
  
 Edit: unless you had the cash in your account to hang onto the shares and wanted to.

### END.