You own four call option contracts on Webster South stock with a strike price of $17.50. When you purchased the shares the option price was $.85 and the stock price was $16.90. What is the intrinsic value of your investment if Webster is currently selling for $16.40 a share?
A) -$440
B) -$240
C) $0
D) $240
E) $440
Correct Answer:
Verified
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