Three weeks ago, you purchased a November 25 put option on Kepner stock at an option price of $1.20. The market price of the stock three weeks ago was $24.30. Today, the stock is selling at $24.80 a share and the November 25 put is priced at $.60. What is the intrinsic value of your put contract?
A) -$100
B) -$20
C) $0
D) $20
E) $60
Correct Answer:
Verified
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