问题
单项选择题
All of the following statements regarding interest-rate options are true EXCEPT:()
A. they are based on a fixed income security and can hedge interest rate risk.
B. they are based on a specific interest rate rather than a bond.
C. call option values move in the same direction as interest rates.
答案
参考答案：A
解析：
Treasury bond or bill options are options on fixed income securities. Interest rate options are based on a specific reference rate and interest rate calls have positive payoffs when the reference rate is above the rate specified in the contract.