单选题

An investor purchases a put option on AAA shares that has a strike price of €50 and expires in three months. One month later, AAA shares are trading at €54. At that time, the put most likely has:

A、 positive intrinsic value but no time value.
B、 positive time value but no intrinsic value.
C、 positive time value and positive intrinsic value.

【正确答案】 B

【答案解析】

B is correct. The put option has no intrinsic value because the share price is above the strike price. Because the option has a remaining life of two months, it has positive time value.