$---- \text {Call} ---$ $\quad$ $\quad$ $-----\text { Put }-----$

question 56

Multiple Choice

$---- \text {Call} ---$ $\quad$ $\quad$$-----\text { Put }-----$
$\begin{array}{lllllll}\text { Option/Strike Exp.}&&&\text { Vol. }&\text { Last} &\text {Vol.}&\text { Last.}\\\text { XYZ} \\385 / 8 & 25 & \text { Dec. } & -- & --- & 100 & 1 / 8 \\385 / 8 & 30 & \text { Nov. } & 250 & 8\quad3/4 & 464 & 1 / 16 \\ 385 / 8 & 30 & \text { Dec. } & --- & --- & 572 & 5 / 16 \\385 / 8 & 35 & \text { Nov. } & 154 & 4\quad1 / 2 & 1748 & 5 / 16 \\385 / 8 & 35 & \text { Dec. } & 923 & 5\quad1 / 4 & 580 & 1\quad3 / 16 \\385 / 8 & 35 & \text { Mar. } & -- & --- & 33 & 2\quad5 / 8 \\385 / 8 & 40 & \text { Nov. } & 2023 & 1\quad1 / 8 & 530 & 2\quad3 / 8\end{array}$


-The closest quote for the Dec. 25 call, were it to trade, would be

• A) 12. Solution: Intrinsic value =38 5/8 - 25
• B) 4 7/8. =13 5/8
• C) 10 1/2.
• D) 13 5/8.

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Definitions:

Orgasm Phase

A phase in sexual response characterized by intense pleasure, increased heart rate, and typically, in men, ejaculation, and in women, vaginal contractions.

Shortest Phase

Generally refers to the briefest stage or period within a process or cycle, though specifics can vary depending on the context it is used in.

Sexual Response Cycle

A model that describes the physiological responses that take place during sexual activity, typically divided into phases such as arousal, plateau, orgasm, and resolution.

Excitement Phase

The initial stage of the sexual response cycle involving physiological arousal, such as increased heart rate and genital sensitivity.