The current stock price of Noole Inc is $40, and the stock does not pay dividends. The instantaneous risk-free rate of return is 3%. The instantaneous standard deviation of Noole Inc's stock is 45%. You want to purchase a put option on this stock with an exercise price of $35 and an expiration date 30 days from now.

Using Black-Scholes, the put option should be worth ______ today.

• 0.34

• 0.36

• 5.09

• 5.45