答案和详解如下： 21.Consider a put option on Deter, Inc., with an exercise price of $45. The current stock price of Deter is $52. What is the intrinsic value of the put option, and is the put option at-the-money or out-of-the-money? Intrinsic Value Moneyness A) $7 At-the-money B) $7 Out-of-the-money C) $0 At-the-money D) $0 Out-of-the-money The correct answer was D) The option has an intrinsic value of $0, because the stock price is above the exercise price. Put value is MAX (0, X-S). Equivalently, the option is out-of-the-money. 22.Regarding buyers and sellers of put and call options, which of the following statements concerning the resulting option position is most accurate? The buyer of a: A) call option is taking a long position and the buyer of a put option is taking a short position. B) put option is taking a long position and the seller of a call option is taking a long position. C) put option is taking a short position and the seller of a call option is taking a short position. D) call option is taking a long position while the seller of a put is taking a short position. The correct answer was D) The buyers of both puts and calls are taking long positions in the options contracts (but the buyer of a put is establishing a potentially short exposure to the underlying), while writers (sellers) of each are taking short positions in the options contracts. | 
发表于 2008-4-9 17:09
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