An option that gives the buyer the right but not the obligation to purchase (go long) the underlying futures contract at the strike price on or before the expiration date of the option?

call option

put option

An option that gives the option buyer the right but not the obligation to sell (go short) the underlying futures contract at the strike price on or before the expiration date of the option?

call option

put option

The difference between the strike price and the underlying futures price for an option that is in the money is called?

The price at which the futures contract underlying a call or put option can be purchased (call) or sold (put) is called?

A Nov Soybean call has a strike price of $11.50.The underlying November futures price is $12.00.The intrinsic value is _________ cents.

A Jul Corn call has a strike price of $5.50.The underlying July futures price is $5.50.The intrinsic value is _________ cents.

A Mar Soybean call has a strike price of $13.50.The underlying March futures price is $12.89.The intrinsic value is _________ cents.

A Sep Wheat call has a strike price of $6.00.The underlying September futures price is $6.50.The intrinsic value is _________ cents.

An Aug Soybean meal put has a strike price of $320.The underlying August futures price is $340,

The intrinsic value is _________cents.

A Dec Wheat put has a strike price of $6.60.The underlying December futures price is $6.20.The intrinsic value is _________cents.