单选题
Prior to expiration, an American put option on a stock:
A、
is bounded by S-X/(1 +RFR)T
B、
will sell for its intrinsic value.
C、
will never sell for less than its intrinsic value.
【正确答案】
C
【答案解析】
At any time t, an American put will never sell below intrinsic value, but may sell for more than that. The lower bound is Max [ 0, X -S
t
].
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