You bought an American put option on a certain asset with a strike (exercise) price of $10. In which of the following cases would the contract be worth the most for you?
 1) If the current price of the underlying asset is C$8
 2) If the current price of the underlying asset is C$9
 3) If the current price of the underlying asset is C$11
 4) If the current price of the underlying asset is C$12