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Suppose a PUT option with one month to expire is in-the-money with an intrinsic value of $3. The option's strike price is $20.The option is

Suppose a PUT option with one month to expire is in-the-money with an intrinsic value of $3. The option's strike price is $20.The option is selling for $3.25. What is the option's time value?

Question options: option 1 is wrong

$17.00

$3.00

$0.25

4)	Incomplete information

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