How is loss calculated on options

I bought PE worth 1.2 lakh sold it when the market values of it is -1.9 lakh (in a loss) before expiry.

How much is the loss made in this regard. Is it only the premium of 1.2 lakh or the market valu of 1.9 lakh

When you buy options, the maximum you can loose is the premium that you have paid. So confused how you can loose 1.9lks .

I had shorted options worth 1.2 lakhs and the current market value for the purchase is 1.9 lakhs. i had squared it off before the expiry

If you had short 1.2lks worth of options and current value is 1.9lks, that means a loss of Rs 70k.