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1 . A Call option on Ford stock with a premium of $ 7 and strike price of $ 5 0 and current stock price

1. A Call option on Ford stock with a premium of $7 and strike price of $50 and current stock price is $55.
What is the intrinsic value?
What is the time value?
Is the option in the money, out of the money, or at the money?
2. A Call option on Ford stock with a premium of $2 and strike price of $50 and current stock price is $48.
What is the intrinsic value?
What is the time value?
Is the option in the money, out of the money, or at the money?

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