3. Produce a graph comparing a call's intrinsic value (defined as max(S X, 0)] and its Black-Scholes price. From this graph you should be able to deduce that it is never optimal to exercise early a call priced by the Black-Scholes. 3. Produce a graph comparing a call's intrinsic value (defined as max(S X, 0)] and its Black-Scholes price. From this graph you should be able to deduce that it is never optimal to exercise early a call priced by the Black-Scholes