Question: A LMN Dec 45 put is trading for 3.5 when LMN is at $47.50. What is the time value of this option? (A) 0 (B)

A LMN Dec 45 put is trading for 3.5 when LMN is at $47.50. What is the time value of this option?

(A) 0

(B) 1

(C) 2.5

(D) 3.5

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