At expiration, the time value of an in-the-money put option is always

A) equal to zero.
B) negative.
C) positive.
D) equal to the stock price minus the exercise price.
E) None of the options are correct.

Time Value

The concept in finance that money available now is worth more than the same amount in the future due to its potential earning capacity.

In-The-Money

A term describing an options contract that has intrinsic value; for a call, when the underlying asset's price is above the strike price, and for a put, when it's below.

Put Option

A financial contract that gives the holder the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.