You bought a call option on euros with an exercise price of $1.25/. Suppose that the $- spot exchange rate today is $1.20/. The call option premium today is $0.15/. What are the intrinsic value and time value of the call option today?

a. Intrinsic value = $0.05/, time value = $0.10/.

b. Intrinsic value = -$0.05/, time value = $0.20/.

c. Intrinsic value = 0, time value = 0.

d. Intrinsic value = 0, time value = $0.15/.