$Tesla (TSLA.US)$
Hi, I wish to learn about option trading . However, I got some questions about exercising the option.
If I bought a American put option contract for USD80 strike price expired at 25/10/2024. Then, somehow the stock price fall to USD70 before 25/10/2024. I wish to exercise the put option. Do I need to spend USD 7000 to buy the underlying stock first then sell it at USD 80 per share for profit ?
This means that I need to have USD 7000 cash in my account to ex...

$Futu Holdings Ltd (FUTU.US)$
Hi, I wish to learn about option trading . However, I got some questions about exercising the option.
If I bought a American put option contract for USD80 strike price expired at 25/10/2024. Then, somehow the stock price fall to USD70 before 25/10/2024. o wish to exercise the put option. Do I need to spend USD 7000 to buy the underlying stock first then sell it at USD 80 per share for profit ?
This means that I need to have USD 7000 cash in my account to...