1. You have been watching a particular call option. At close yesterday, it was quoted at $3.47 bid $3.50 ask. Today you were too busy studying for finals to buy it, and to your amazement the underlying rose $6.54 on good earnings. The option is now $5.15 bid $5.22 ask. Aside from rage and frustration, what is the delta of the option? (Ignore theta and gamma effects and assume vol hasn't changed).

Is the option in-the-money, at-the-money, or out-of-the-money? Why?