What is the value of one November 35 put contract?
KNJ (KNJ)Underlying share price: 30.86
$\begin{array}{|l|l|l|l|}
\hline && Call & Put \
\hline Expiration&Strike&Last&Last\
\hline \text { Aug } & 25 & 6.15 & .05\
\hline \text { Nov } & 25 & 6.60 & .10 \
\hline \text { Aug } & 35 & .10 & 4.60 \
\hline \text { Nov } & 35 & .70 & 5.10\
\hline
\end{array}$

Question

What is the value of one November 35 put contract?
KNJ (KNJ)Underlying share price: 30.86
$\begin{array}{|l|l|l|l|}
\hline  && Call & Put \
\hline Expiration&Strike&Last&Last\
\hline \text { Aug } & 25 & 6.15 & .05\
\hline \text { Nov } & 25 & 6.60 & .10 \
\hline \text { Aug } & 35 & .10 & 4.60 \
\hline \text { Nov } & 35 & .70 & 5.10\
\hline
\end{array}$

Quizplus · Accepted Answer

The value of a put option is the difference between the strike price and the current stock price, only if the former is greater than the latter. In this case, the stock price is 30.86 and the strike price is 35, so the put option has an intrinsic value of 35 - 30.86 = 4.14. The market price of the put option is given as 5.10, so the total value of the contract (100 shares) is 510.

What Is the Value of One November 35 Put Contract