diff --git a/lib/pry/pry_instance.rb b/lib/pry/pry_instance.rb
index 3de11fe4..439de09f 100644
--- a/lib/pry/pry_instance.rb
+++ b/lib/pry/pry_instance.rb
@@ -37,8 +37,8 @@ class Pry
       defaults[attribute] = Pry.send attribute
     end
 
-    defaults.merge!(options).each_key do |key|
-      send "#{key}=", defaults[key]
+    defaults.merge!(options).each do |method, argument|
+      send "#{method}=", argument
     end
 
     @command_processor = CommandProcessor.new(self)