Look at Table 22.1. Normally the settlement price falls as the strike price increases for call options. Conversely, the settlement price generally increases as the strike price gets higher for put options. Why do you think this is not the case with Air France-KLM? Explain.

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Table 22.1 Information about the Options of Air France-KLM Corporation Code Exercise Type AF1 American Codes and Classification Market Euronext Paris Currency Vol. O.I. 6,600 209,925 20 Mar 2015 19 Mar 2015