Use the option quote information shown here to answer the questions that follow. The stock is currently selling for $80.

						Calls						Puts
Option and
NY Close	Expiration			Strike Price		Vol.			Last			Vol.			Last
RWJ
		Mar		72			250			5.20			180			5.30
		Apr		72			190			11.05			147			10.05
		Jul		72			159			11.90			63			13.85
		Oct		72			80			12.80			31			12.45

a-1.

Are the call options in or out of the money?

	In
	Out

a-2.	What is the intrinsic value of an RWJ Corp. call option? (Do not round intermediate calculations.)

Intrinsic value

$

b-1.

Are the put options in or out of the money?

	In
	Out

b-2.	What is the intrinsic value of an RWJ Corp. put option? (Do not round intermediate calculations.)

Intrinsic value

$