Name 1. A put option on Snapple Beverage has an exercise price of $30. The current stock price of Snapple Beverage is $24.25. The put option price is S7.5, a) Is this option an at the money option, out of the-money option, or in-the-money option? b) Compute the ntrinsic value and the time value of this option. 2. You write a put option with X -$50 and buy a put with X-$60. One is selling for $3 and another is selling for $6. The options are on the same stock and have the same maturity date, a) What is the break-even point for this strategy? b) How much is profitloss when stock price is $55