You own one Nov. 22 call options on Canadian dollar with K = $0.7650 for which you paid a premium of $0.005/C$. The spot exchange rate today is $0.7750.

(i) How would you classify this option today, in-the-money or out-of-the-money? What is time value of this option?

(ii) What is your profit/loss if you sell this option today when it is trading at a premium of $0.015/C$? Contract size is C$100,000 and the U.S. interest rate is 2%. Assume that you bought this option in Jan 22.