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A put option (with shares as the underlying asset) was originally purchased for $0.93 and is now trading for $2.65. The exercise price is $39

A put option (with shares as the underlying asset) was originally purchased for $0.93 and is now trading for $2.65. The exercise price is $39 and the underlying share is currently trading for $36.95. What is the time value of the option?

a. $0.60

b. $2.65

c. $2.05

d. $-1.12

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