8. December com is currently trading at a market price of $5.00 / bushel. A $4.50 call option would be classified as: a. In the money b. At the money c. Out of the money 9. An option premium is composed of two parts, what are the two parts of an option premium? 10. What is a "long" hedge? 11. An options writer has risk and returns. 12. An options buyer has risk and returns. 13. The price of December corn on April 27, 2023 is 5322/ bushel. Explain this price notation. 14. Options are referred to as a "decaying asset", explain. 15. When the strike price = market price, the option is termed