Calculate the intrinsic value and time value from the mid-market (average of bid and offer) prices for the September 2015 call options in Table 1.2. Do the same for the September 2015 put options in Table 1.3. Assume in each case that the current mid-market stock price is $532.27

September 2015 call option		September 2015 put option		Strike Price
Bid	Offer	Bid	Offer
66.00	68.90	5.50	9.20	475
45.90	47.90	13.00	13.80	500
30.40	31.30	22.40	23.20	525
18.60	19.40	35.20	36.40	550
10.50	11.30	51.90	53.50	575

NB: Please show data for the formulas