For the next 7 questions. A PUT and a CALL option are written on a stock with a strike price of $60. The options are held until expiration. 13. Calculate the intrinsic value of the PUT option if the stock is currently selling for $75. a) $0 b) $15 c) -$15 d) $57 e) 63 f) None of the above

14. Calculate the breakeven stock price for the PUT option if the premium is $3. What is the time value of the put? a) $63; $3 b) $57; $3 c) $55; $0 d) $76; $0 e) $55; $0 f) None of the above