This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The fundamental rights of call and put option buyers. - How to calculate an option's intrinsic and time value. - The distinction between an option being "in-the-money" versus the breakeven point. - Key terminology for option buyers and sellers that you will see on the exam. - A simple mnemonic to remember the desired market direction for call and put buyers. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep