1. option basics Aa Aa E The Chicago Board Options Exchange (CBOE) is one of the world's largest options exchanges. CBOE and other options exchanges trade contracts that give buyers and sellers the right to trade investment assets at a specific price within a specific time period. option gives the option holder the right to buy an asset at a fixed price during a particular period. The fixed price, or the price at which the asset is bought, is called the exercise price The following table shows the options quotation in U.S. dollars for Purple Pigeon Bird Seed Company for June 30 of this year. Call Last Quote Put Last Quote Option Closing Price Strike Price September September $44.50 $48.50 $5.00 $5.50 $44.50 $39.50 $7.50 $3.00 $44.50 $50.50 $4.00 $6.50 If you could exercise the options listed only on the expiration date (the third Friday of September, then these options would be options Assume that the options listed in the table are American options. Which of the put options for Purple Pigeon Bird Seed Company listed in the table are in-the-money on June 30? O Option 1 and option 3