1) When a share of a company's stock is selling for $55.00, a call option on the stock with a strike price of $56.00 is said to be:

A) In the Money

B) Out of the Money

C) Carried at basis

D) An American option

2) When a share of a company's stock is selling for $55.00, a put option on the stock with a strike price of $56.00 is said to be:

A) In the money

B) Out of the money

C) Carried at basis

D)An American Option