问题
单项选择题
An analyst does research about the option markets and contracts. With respect to an option on a non-dividend paying stock, and all else being equal, which of the following statements is most accurate The longer-term European put will tend to be worth more than the short-term European put when:（）
A. volatility is greater and interest rates are lower.
B. volatility is greater and interest rates are higher.
C. volatility is less and interest rates are higher.
答案
参考答案：A
解析：
一般来讲，长期期权要比短期期权更有价值，但有两个例外：一是深度价外期权，其长期和短期价值一样；二是欧式看跌期权，因为长期的会有损失的利息，要与多出来的时间里的标的资产的波动性相比较，如果波动性比较大而利率比较低，则可能长期的欧式看 跌期权要比短期的欧式看跌期权更有价值，但如果波动性比较小而利率比较高，则可能短期的欧式看跌期权要比长期的欧式看跌期权更有价值。