# [Series 65] 32, Options Basics Calls and Puts

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Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-65-32-options-basics-calls-and-puts.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-04-25T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-65-32-options-basics-calls-and-puts
Audio file: https://episodes.captivate.fm/episode/d66bd6ab-445f-4cc3-9a18-75e6a4f5bc73.mp3
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JSON: https://stenobird.com/v1/public/podcasts/open-exam-prep-7140559/episodes/series-65-32-options-basics-calls-and-puts
Duration seconds: 208

## Resource

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

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## Transcript

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