Gillette is trading at $31 11 Call options with a strike price of $35 are priced at $0 30 What is the intrinsic value of the option, and what is the time value ...

Gillette is trading at $31.11. Call options with a strike price of $35 are priced at $0.30.

Question:

Gillette is trading at $31.11. Call options with a of $35 are priced at $0.30.
What is the intrinsic value of the option, and what is the time value?
Strike Price
In finance, the strike price of an option is the fixed price at which the owner of the option can buy, or sell, the underlying security or commodity.