Assume the investment company you work for specializes in technology stocks. This frequently puts the

firm in the position to take long or short positions on investments that have prices likely to be moving in

the near future. Your company is evaluating Apple Inc. $($NASDAQ: AAPL$),$ currently priced at

$$144\mathrm{.}00$ share. If your company purchases an option with strike price of $$145\mathrm{.}45,$ what is the intrinsic

value?

a$.$ $$144$

b$.$ negative $$1\mathrm{.}45$

c$.$ $$1\mathrm{.}45$

d$.$ $$145\mathrm{.}45$