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Describe a scale model of the disk of the Milky Way using a scale in which 1 cm = 1000 light-years. Note that the diameter of the disk is approximately 100,000 light-years, the thickness of young stars is 500 light-years, and the thickness of the older stars is 4,000 light-years.
Call Premium
The amount by which the price of a call option exceeds its intrinsic value, often reflecting the time value of the option.
Put Option
An agreement in finance allowing the owner to sell a certain quantity of an underlying asset at a set price during a specific period, without being compelled to do so.
Strike Price
The pre-determined price at which the holder of an option can buy (in the case of a call option) or sell (in case of a put option) the underlying asset.
Market Price
The prevailing selling or buying price of a service or asset in the market.
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