Use the option quote information shown here to answer the questions that follow. The stock is currently selling for $61.

						Calls						Puts
				Strike
Option	Expiration			Price		Vol.			Last			Vol.			Last
RWJ		Mar		55			231			3.30			161			3.40
		Apr		55			171			9.15			128			8.15
		Jul		55			140			10.00			44			11.00
		Oct		55			61			10.90			12			10.55

a-1

Are the call options in or out of the money?

	In the money
	Out of the money

a-2	What is the intrinsic value of an RWJ Corp. call option?

Intrinsic value

$

b-1

Are the put options in or out of the money?

	In the money
	Out of the money

b-2	What is the intrinsic value of an RWJ Corp. put option?

Intrinsic value

$

c-1

Two of the options are clearly mispriced. Which ones?

	Mar call
	Apr call
	Oct call
	Mar put
	Oct put
	Apr put

c-2	What is the arbitrage profit you could make on each of the mispriced options? (Round your answers to 2 decimal places, e.g., 32.16.)

	Profit
	$
	$