A put option has a strike price of $35 and a stock price of $38. If the put option is trading at $1.25, what is the time value embedded in the option? $3 $0 $0.75 $1.25 Question 12 (25 points) A call option with several months until expiration has a strike price of $55 when the stock price is $50. The option has intrinsic value and time value. positive; negative zero; positive negative; positive zero; zero