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The current stock price of Johnson & Johnson is $76, and the stock does not pay dividends. The instantaneous risk-free rate of return is 5%.

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The current stock price of Johnson \& Johnson is $76, and the stock does not pay dividends. The instantaneous risk-free rate of return is 5%. The instantaneous standard deviation of J\&J's stock is 30%. You want to purchase a put option on this stock with an exercise price of $67 and an expiration date 51 days from now. Using Black-Scholes, the put option should be worth today. .39.469.579.93

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