Answer: $0

## Explanation For a put option, the intrinsic value is calculated as: **Intrinsic Value = Max(Strike Price - Stock Price, 0)** Given: - Current stock price = $25 - Strike price = $20 - Time to expiration = 6 months (irrelevant for intrinsic value calculation) Calculation: Intrinsic Value = Max($20 - $25, 0) = Max(-$5, 0) = $0 **The intrinsic value is $0** because the put option is out-of-the-money (stock price > strike price). The option has no intrinsic value, only time value (if any). Note: The question appears to be incomplete in the provided text, but based on the information given, we can calculate the intrinsic value as shown above.

Author: LeetQuiz Editorial Team