$---- \text {Call} ---$ $\quad$ $\quad$ $-----\text { Put }-----$

$---- \text {Call} ---$ $\quad$ $\quad$$-----\text { Put }-----$
$\begin{array}{lllllll}\text { Option/Strike Exp.}&&&\text { Vol. }&\text { Last} &\text {Vol.}&\text { Last.}\\\text { XYZ} \\385 / 8 & 25 & \text { Dec. } & -- & --- & 100 & 1 / 8 \\385 / 8 & 30 & \text { Nov. } & 250 & 8\quad3/4 & 464 & 1 / 16 \\ 385 / 8 & 30 & \text { Dec. } & --- & --- & 572 & 5 / 16 \\385 / 8 & 35 & \text { Nov. } & 154 & 4\quad1 / 2 & 1748 & 5 / 16 \\385 / 8 & 35 & \text { Dec. } & 923 & 5\quad1 / 4 & 580 & 1\quad3 / 16 \\385 / 8 & 35 & \text { Mar. } & -- & --- & 33 & 2\quad5 / 8 \\385 / 8 & 40 & \text { Nov. } & 2023 & 1\quad1 / 8 & 530 & 2\quad3 / 8\end{array}$


-The closest quote for the Dec. 25 call, were it to trade, would be

A) 12. Solution: Intrinsic value =38 5/8 - 25
B) 4 7/8. =13 5/8
C) 10 1/2.
D) 13 5/8.