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A stock is trading at$123.67. The 120 put is quoted at $1.98 bid $2.24 ask. How much intrinsic value does this option have? (Calculate based

A stock is trading at$123.67. The 120 put is quoted at $1.98 bid $2.24 ask. How much intrinsic value does this option have? (Calculate based on bid-ask midpoint).

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