Question 4 Consider the following: your purchased a put option on JPM two months ago, with a strike price for the option of $138, and the option expires today. Show work for all parts requiring...

Question 4

Consider the following: your purchased a put option on JPM two months ago, with a strike price for the option of $138, and the option expires today.
Show work for all parts requiring computation.

1. Suppose the stock price is $152. What is the exercise value?

1. In general, how is the value of a put option affected by time (+/-/None), underlying asset volatility (+/-/None), and the current asset price (+/-/None)?