The table below contains the current prices for calls and puts with various strike prices and a stock currently priced at $132.

Todays Date		10/5/2018
Current Stock Price:		$ 132.00
Option expiration		1/5/2019	(Assume T = .25)
3 month risk free rate:			3.00%	(quoted on an annualized basis)
Call Premiums		Strike Price		Put Premiums
$ 9.50		$ 125		$ 1.58
$ 6.85		$ 130		$ 3.89
$ 3.25		$ 135		$ 5.26

Calculate each options Intrinsic Value, Time Value, upper and lower bounds. (For this part assume the options are American)

IV TV upper bound (In $s) lower bound (in $s)

$125 Strike Call ______ _______ _______________ ______________

$125 Strike Put ______ _______ _______________ ______________

$130 Strike Call ______ _______ _______________ ______________

$130 Strike Put ______ _______ _______________ ______________

$135 Strike Call ______ _______ _______________ ______________

$135 Strike Put ______ _______ _______________ ______________

Assume on expiration the stock trades at $125.75. Assume each option above had both a buyer and seller at the prices listed in the table. Given where the stock ended up trading at expiration, give me the payoff/payout and profit/loss for each trader on a per share basis. Do not factor in any interest earned or forgone.

Buyer Seller

Payoff Profit/Loss Payout Profit/Loss

$125 Strike Call ______ ___________ _______________ ______________

$125 Strike Put ______ ___________ _______________ ______________

$130 Strike Call ______ ___________ _______________ ______________

$130 Strike Put ______ ___________ _______________ ______________

$135 Strike Call ______ ___________ _______________ ______________

$135 Strike Put ______ ___________ ___________