Case Study: Julian Lim purchased a put option at the cost of $0.30 each. The put option has a strike price of S$3.00 and the underlying stock is...

Case Study:

Julian Lim purchased a put option at the cost of $0.30 each. The put option has a strike price of S$3.00 and the underlying stock is currently trading at S$3.50. Julian Lim bought 100 shares. 

Question:

Calculate the maximum gain to be produced for Julian Lim by this put option strategy.