A call option on pounds has a strike price of $1.34 per pound. The present exchange rate is $1.34 per pound. This call option can be referred to as: at a discount in the money O out of the money at the money You purchase a put option on Swiss francs with an exercise price of $.92 for a premium of $0.03. Currently, the spot rate is $1.03 per franc. The option's intrinsic value is: $0.11 -$0.11 $0 O$.92 -$0.03