A call option on Vine Co. shares currently trades for $0.40 per share. The expiration date is March 18 of next year and the exercise price of the option is $6.00 per share.
a) If this were an American option, on what date(s) can the option be exercised?
b) If this were a European option, on what date(s) can the option be exercised?
c) If the current price of Vine Co. shares is $5.50, is this option worthless? Explain