Today's price for a share of Best Buy stock is $110$ with a $120$ put. The price of the put is $14.$

In $4$ months at expiration, the stock is priced at $135.$ Does the put option have intrinsic

value?

No$,$ therefore it is in the money.

Yes, therefore it is at the money.

No$,$ thenefore it is out of the money.

Yes, therefone it is in the money.