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You have taken a long position in a call option on Gringotts Bank common stock. The option has an exercise price of $176 and Gringotts's

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You have taken a long position in a call option on Gringotts Bank common stock. The option has an exercise price of $176 and Gringotts's stock currently trades at $180. The option premium is $5 per contract. Which of the following statements is correct? The option is at the money The option is off the money The option is out of the money The option is in the money

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