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The following quotes were observed for options on a given stock on November I of a given year. These are American calls except where indicated.

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The following quotes were observed for options on a given stock on November I of a given year. These are American calls except where indicated. The stock price was 113.25. Assume no dividends unless indicated Strike 105 110 115 Nov 8.375 4.375 1.50 Call Dec 10 7.125 3.875 Jan 11.5 8.25 5.25 Put Dec 5.3125 1.25 0.9375 2.o 2.8125 4.75 Nov Jan 3.75 4.75 18. What is the intrinsic value of the December 115 put? 19. What is the intrinsic value of the January 110 call? 20. What is the time value of the December 105 put? 21. What is the time value of the November 110 call

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