A Sept. $70 call option on Berkshire Hathaway B was purchased for $1,060. BRK-b is currently selling for $78.95 per share.

22. By how much is the call option in-the-money or out-of-the-money?

Answer: In / Out by $____________ per share

(Circle One)

23. Whats the Intrinsic Value for the option?

Answer: $____________

24. What's the Time Premium of the option?

Answer: $____________

25. What's the break-even point for the option at maturity?

Answer: BRK-b has to be $____________ per share at maturity for the buyer to break-even.

27. What's the net gain or loss for the buyer of the option if BRK-b is $100 at maturity?

Answer: Net Gain / Loss (circle one) of $____________

28. Which of the BRK-b calls are in-the-money?

Answer: The calls with strikes of _______________________________ are in-the-money.