Assume you bought the July $120 call for $13.65 63 days before expiration. It is now expiration day and the market just closed (so the option is expired). The closing stock price at expiration for ABC was $119.00 Which answer below best describes the rights and obligations of you and the call seller and the option characteristics at expiration?

a. parity for the July $120 call option is $1.00

b. the call option has $1 intrinsic value

c. the call option finished ITM

d. You are obligated to buy the stock from the call seller for $120

e. parity for the July $120 call option is zero so the option expired worthless

f. the buyer of the call option loses $13.65 and the seller keeps the $13.65

g. a & b h. c & d i. e & f

j. None of the above

Assume you bought the May $130 put for $7.35 7 days before expiration. It is now expiration day and the market just closed (so the option is expired). The closing stock price at expiration for XYZ was $132.45 Which answer below best describes the rights and obligations of you and the put seller and the option characteristics at expiration? a. parity for the May $130 put option is $2.45 b. the put option has value since the stock finished about $130 c. the put option was OTM when it was sold but is now ITM d. You are obligated to buy the stock from the put seller for $130 e. You have the obligation to sell the stock at $130 f. a & b g. c & d h. None of the abov