1. suppose i am short a stock. I then buy a call on that stock. when I buy the call, I have

a) Paid money but gain protection if the price of the stock rises

b) Paid money but gain protection if the price of the stocck falls

c) Received money but give up the upside benefit if the price of the stock rises

d)Received money but give up the upside benefit if the price of the stock falls

2. suppose i am long a stock. I then write a call on that stock. when I write the call, I have

a) Paid money but gain protection if the price of the stock rises

b) Paid money but gain protection if the price of the stocck falls

c) Received money but give up the upside benefit if the price of the stock rises

d)Received money but give up the upside benefit if the price of the stock falls