S: Price

X: strike price

T: maturity time

2. a. What happens to the time value of European put option price for S > X ? Prove your argument. Show your work in detail. b. Find and draw the feasible region, approximately, for European call price depending on the underlying stock price, given X = $20, r = 0.15, and T = 1. 2. a. What happens to the time value of European put option price for S > X ? Prove your argument. Show your work in detail. b. Find and draw the feasible region, approximately, for European call price depending on the underlying stock price, given X = $20, r = 0.15, and T = 1