You Own Eight Call Option Contracts on Swift Water Tours

question 1

Multiple Choice

You own eight call option contracts on Swift Water Tours stock with a strike price of $15.When you purchased the shares the option price was $0.30 and the stock price was $15.25.What is the total intrinsic value of these options if the stock is currently selling for $16.08 a share?

• A)-$83
• B)-$1.08
• C)$0
• D)$108
• E)$864

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