单选题 Buying an interest-rate cap and selling an interest-rate floor is equivalent to: A. buying a series of interest-rate calls and selling a series of interest-rate puts. B. buying a series of interest-rate puts and selling a series of interest rate calls. C. buying a series of interest-rate puts and calls.

【正确答案】 A

【答案解析】A cap is equivalent to a series of (long interest-rate calls and selling a floor is equivalent to selling a series of interest-rate puts.