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Put options for AUD with an exercise price of NOK6.57/AUD and a premium of NOK0.02 have a spot rate of NOK6.56/AUD at maturity. If the

Put options for AUD with an exercise price of NOK6.57/AUD and a premium of NOK0.02 have a spot rate of NOK6.56/AUD at maturity.

If the contract size is AUD600,000, these options are

and the net profit to a rational purchaser of this option is

"in the money"

"out of the money"

"at the money"

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