Question: What is the exercise value (intrinsic value) at the time of purchase (t =0) to the holder of a put with price $120 if the

What is the exercise value (intrinsic value) at the time of purchase (t =0) to the holder of a put with price $120 if the underlying asset is $100 and the put premium is $30?

$0

$5

$10

$15

$20

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