Question: Problem 2 1 - 3 8 You are attempting to value a put option with an exercise price of $ 1 0 2 and one

Problem 21-38
You are attempting to value a put option with an exercise price of $102 and one year to expiration. The underlying stock pays no
dividends, its current price is $102, and you believe it has a 50% chance of increasing to $121 and a 50% chance of decreasing to $83.
The risk-free rate of interest is 5%. Calculate the value of a put option with exercise price $102.(Do not round intermediate
calculations. Round your answer to 2 decimal places.)
Value of a put option
Problem 21-38 You are attempting to value a put option with

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