Refer to Exhibit 11.6. What is the time value and what is the intrinsic value of a call option on Wells Fargo with a strike price of $23.00 and October expiration? What is the time value and what is the intrinsic value of a put option on Wells Fargo with a strike price of $23.00 and October expiration?

EXHIBIT 11.6 Sample Stock Option Quotations (September 24, 2010) Sample of Listed Stock Option Quotations Call Put Underlying Option Expiration Strike Last Volume Open Interest LastVolume Open Interest Stock Price Ford Motor Oct 2010 Ford MotorNov 2010 $12 102 5 Wells Fargo Oct 2010 5232.60 Wells Fargo Oct 2010 $28009 282 54 2,219 25,591 $005 177 484 107 235 $12.56 12.56 25.59 25.59 $12 $0.61 382 048 0.16 272 678 3,867 35,463 4571 21 0.09 25.59 Sample of LEAP Quotations (Long-Term Options Call Put Underlying me Open Interest Stock Price Option x ik Last Volume Open Interest Last Volume Open Interest Apple Apple MicrosoftJan 2012 Microsoft Jan 2013 an 2012 an 2013 3,425 641 97,790 491 $350 $25.01 189 350 41.5 $292.32 292.32 24.78 24.78 8115 629 95 30 115 1,266 585 24,716 30 2.00 16,804 8.06 100