A put option on the euro with a strike price of $1.3650/ is currently priced at (i.e., premium is) $0.0450/. The current spot rate is $1.3680/. The time value of the put is:

1. 1. -$0.0420/
   2. $0.0420/
   3. -$0.0450/
   4. $0.0450/
3. Refer to the information in the above question. At which exchange rate, S_T, do you break even?
   1. $1.3230/
   2. $1.4130/
   3. $1.4100/
   4. $1.3200/

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