SIE Exam Prep - Intrinsic Value. Series 7 exam and Series 65 too!

Time stamps:
1:20 Three option contract events are option contract can be traded, the option contract can be exercised, the option contract can expire (TEE)
3:45 Call contracts have intrinsic value or are in the money when the market price of the stock is above the strike price option.  If at expiration the contract has intrinsic value the contract will be exercised.
5:45 Call contracts are at the money when the market price of the stock is the same as the strike price of the option contract
6:02 Call contracts are out of the money when the market price of the stock is below the strike of the option contract.  There is no such thing as negative intrinsic value.  If at expiration the option contract is at the money or out of the money the contract will expire worthless.
8:40 Put contracts have intrinsic value or in the money of the market price of the stock is below the strike price of the put contract.  If at expiration the put contract has intrinsic value the put contract will be exercised
9:42 Put contracts are at the money when the strike price of the option contract is the same as the market price of the stock.
10:00 Put are out of the money when the market price of the stock is above the strike price of the put contract.  If at expiration the put contract is at the money or out of the money the contract will be expire worthless
11:21 Intrinsic value + time value = premium