Question: Consider a put option on Dell, with an exercise price of $45. The current stock price of Dell is $52. What is the intrinsic value

Consider a put option on Dell, with an exercise price of $45. The current stock price of Dell is $52. What is the intrinsic value of the put option, & is the put option at-the-money or out-of-the-money? *

$0 , Out-of-the-money

$7 , At-the-money.

$0 , At-the-money.

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