The current stock price of Noole Inc is $56, and the stock does not pay dividends. The instantaneous risk-free rate of return is 6%. The instantaneous standard deviation of Noole Inc'sstock is 25%. You want to purchase a put option on this stock with an exercise price of $50 and an expiration date 70 days from now.

Using Black-Scholes, the put option should be worth ______ today.

• 0.29
• 0.36
• 6.58
• 6.94