Look at the info for April 15th.

What is the value of the Meta May 5th $225 call?

What is the stock price?

What is the intrinsic value of this call?

What is the time value?

What is the value for delta?

Given this delta, if the stock price drops by $2 what would happen to the call price?

Look at the info for April 28th.

What is the value of the Meta May 5th $225 call?

What is the intrinsic value of this call?

What is the time value?

Why so big a difference from the time value of April 15th?

If the call was bought on April 15th and sold on April 28th, what would be the return? Did the delta from April 15th accurately represent the call price on April 28th given the change in the stock price? Explain.

Meta Platforms, Inc. Last: 221.85 Change: 1.14 Date: April 15, 2023 \begin{tabular}{|l|r|r|r|r|r|r|r|r|r|r|} \hline Expiration Date & Calls & Last Sale & Bid & \multicolumn{2}{|c|}{ Ask } & Delta & Strike & Puts & Last Sale Bid & Ask \\ \hline Fri May 05 2023 & 15.46 & 15.35 & 15.65 & 0.6216 & 215.00 & 8.55 & 8.3 & 8.5 & -0.3798 \\ \hline Fri May 05 2023 & 14.05 & 13.85 & 14.25 & 0.5887 & 217.50 & 9.5 & 9.35 & 9.55 & -0.4129 \\ \hline Fri May 05 2023 & 12.55 & 12.55 & 12.9 & 0.5552 & 220.00 & 10.75 & 10.4 & 10.65 & -0.4467 \\ \hline Fri May 05 2023 & 0 & 0 & 0 & 0 & 222.50 & 0 & 0 & 0 & 0 \\ \hline Fri May 05 2023 & 10.1 & 10.05 & 10.3 & 0.487 & 225.00 & 13.3 & 13 & 13.2 & -0.5154 \\ \hline Fri May 05 2023 & 0 & 0 & 0 & 0 & 227.50 & 0 & 0 & 0 & 0 \\ \hline \end{tabular} Meta Platforms, Inc. Last: 221.85 Change: 1.14 Date: April 15, 2023 \begin{tabular}{|l|r|r|r|r|r|r|r|r|r|r|} \hline Expiration Date & Calls & Last Sale & Bid & \multicolumn{2}{|c|}{ Ask } & Delta & Strike & Puts & Last Sale Bid & Ask \\ \hline Fri May 05 2023 & 15.46 & 15.35 & 15.65 & 0.6216 & 215.00 & 8.55 & 8.3 & 8.5 & -0.3798 \\ \hline Fri May 05 2023 & 14.05 & 13.85 & 14.25 & 0.5887 & 217.50 & 9.5 & 9.35 & 9.55 & -0.4129 \\ \hline Fri May 05 2023 & 12.55 & 12.55 & 12.9 & 0.5552 & 220.00 & 10.75 & 10.4 & 10.65 & -0.4467 \\ \hline Fri May 05 2023 & 0 & 0 & 0 & 0 & 222.50 & 0 & 0 & 0 & 0 \\ \hline Fri May 05 2023 & 10.1 & 10.05 & 10.3 & 0.487 & 225.00 & 13.3 & 13 & 13.2 & -0.5154 \\ \hline Fri May 05 2023 & 0 & 0 & 0 & 0 & 227.50 & 0 & 0 & 0 & 0 \\ \hline \end{tabular}