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lProblemsEach 2.5 point, totalS po #21 #25 are based onthefollowinginformation: Stock XYZ options quote (current XYZ stock price strike call last put last expiration 0.1

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lProblemsEach 2.5 point, totalS po #21 #25 are based onthefollowinginformation: Stock XYZ options quote (current XYZ stock price strike call last put last expiration 0.1 40 Oct 2006 2.8 21. The intrinsic value of the Oct 40 put is A. $0 B. $0.1 C. $2.5 D. $2.6 22. The time value of the Oct 40 call is A.$0 B. $0.2 C. $2.6 D. $2.8 23. The breakeven price of the Oct 40 put is A. $40 B. $39.9 C. $40.1 D. $42.6 24. The maximum gain of the Oct 40 call (long position) is A. $0.2 B. $2.8 C. $42.8 D. Unlimited

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