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5. A crude oil put option has an exercise price of $50 when its spot price is $48.55. If the put option is trading at

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5. A crude oil put option has an exercise price of $50 when its spot price is $48.55. If the put option is trading at $2.10, what is its time value? 6. $0.00 7. $0.65 8. $1.45 9. $2.10 10. $48.55

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