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John Smith purchases a Call Option on XYC for $3.00. The option's strike price (X) is $55. Assuming XYC's current stock price (S) is $45,
John Smith purchases a Call Option on XYC for $3.00. The option's strike price (X) is $55. Assuming XYC's current stock price (S) is $45, what is the intrinsic value of the option?
| A. | -$10.00 | |
| B. | $0.00 | |
| C. | -$13.00 | |
| D. | $10.00 |
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