Using the stock option quotations in Figure 14.4 (on page 556), find the option premium, the time

Question:

Using the stock option quotations in Figure 14.4 (on page 556), find the option premium, the time value, and the stock index breakeven point for the following puts and calls.
a. The December put with a $103 b. The December call with a $100 Strike Price
In finance, the strike price of an option is the fixed price at which the owner of the option can buy, or sell, the underlying security or commodity.