(a) For each of the five options presented in the table above, indicate whether the option is in-, at- or out-of-money. Make sure to justify with workings your choice every time.

(c) Appraise one (1) disadvantage and (1) advantage each of amarket order and of a limit order.

Option Exercise Price 85 Current Market Price 90 64 45 75 #1: Call A #2: Put B #3: Call C #4: Put D #5: Put E 64 56 77 16 19