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:

Determine the stock price that would allow Julian Lim to break even on his put option strategy.