Consider the table below, showing stock option prices for various contracts (per share) :
Stock price Strike price Option type Option Price
Target $60 $55 call $5.40
Google $503 $550 call $.60
Ford Motor Co. $15 $12 put $.75
JP Morgan Chase $45 $65 put $25.70
For each contract above, calculate the intrinsic value and the time value of the option, and state whether or not the option is in the money