Put Options

$$

Expire at close, Friday, March $18$

Strike

Last $($Premium$)$

Bid

Ask

Vol

Open Int.

$15\mathrm{.}00$

$0\mathrm{.}50$

$0\mathrm{.}45$

$0\mathrm{.}55$

$1$

$163$

$16\mathrm{.}00$

$0\mathrm{.}75$

$0\mathrm{.}70$

$0\mathrm{.}80$

$26$

$1532$

$17\mathrm{.}00$

$0\mathrm{.}80$

$1\mathrm{.}00$

$1\mathrm{.}10$

$22$

$523$

$18\mathrm{.}00$

$1\mathrm{.}53$

$1\mathrm{.}45$

$1\mathrm{.}55$

$50$

$292$

$19\mathrm{.}00$

$2\mathrm{.}10$

$2\mathrm{.}00$

$2\mathrm{.}10$

$9$

$648$

$21\mathrm{.}00$

$3\mathrm{.}00$

$3\mathrm{.}40$

$3\mathrm{.}60$

$5$

$14$

The table above shows prices of put options on shares of Dunder$-$Mifflin Paper. What is the time premium of the March put option on Dunder$-$Mifflin shares with the $$16$ exercise price? The stock is currently trading for $$18\mathrm{.}50.$

Question $22$ options:

$$0$

$$0\mathrm{.}50$

$$0\mathrm{.}75$

$$1\mathrm{.}25$