You have been asked to determine the prices of the options on ABX stock, currently trading at $22.50 a share. You estimate the continuously compounded ABX stock return volatility () to be 0.20 (20%) and the risk-free rate to be 2.25 percent. These options have 108 days left to expiration.

Determine the equilibrium prices, time and intrinsic values of the following:

1. ABX 20 options.
2. ABX at-the-money options.