A call option has a strike price of $120, and the stock price is $105 at expiration. The expiration day value of the call option is: A. $105. B. $15. C. $0.
A call option has an expiration day value of MAX (0, S-X). Here, X is $120 and S is $105. Because the call option is out of the money at expiration, its value is zero.
