Consider the following tour options on the same underlying instrument: Option 1 : September call, exercise price = $55. Option 2 : September call, exercise price = $60. Option 3 : December put, exercise price = $75. Option 4 : December put, exercise price = $80. What is most likely the relationship among the values of these options September callsDecember puts ①A. Option 1 ＞ Option 2 Option 3 ＞ Option 4 ②B. Option 1 ＞ Option 2 Option 4 ＞ Option 3 ③C. Option 2 ＞ Option 1 Option 4 ＞ Option 3
A．
| A. ① |
B．
| B. ② |
C．
| C. ③ |
参考答案：B
解析：For options that differ only by exercise price, a call with a lower exercise price typically has more value than a call with a higher exercise price because the underlying instrument can be purchased at a lower price. A put with a higher exercise price typically has more value than a put with a lower exercise price because the underlying instrument can be sold for a higher price.