Answer: +$1.00

Using put-call parity, \[ p = c + K e^{-rT} - S \] so the change in the put value is \[ \Delta p = \Delta c + \Delta(K e^{-rT}) - \Delta S \] Because the stock price does not change, \(\Delta S = 0\). The call increases by $1.440, and the strike discount term changes by: \[ 30e^{-0.03\times 1.0} - 30e^{-0.03\times 0.5} = -0.440 \] Therefore, \[ \Delta p = 1.440 - 0.440 = 1.00 \] So the put option value increases by **+$1.00**.

Author: Manit Arora