1. What does Vega measure?  A) The change in the option price over time B) The change in the price of the option due to a change in the price of the underlying asset C) The change in the price of the option in response to a change in the level of volatility D) None of the above 2. How is the Vega of a Long Call?  A) Positive B) negative C) Positive when the spot is below its strike price and negative when the spot is above its strike price. 3. What does Theta measure?  A) The change in the option price over time B) The change in the price of the option due to a change in the price of the underlying asset C) The change in the price of the option in response to a change in the level of volatility D) None of the above 4. How is the Theta of a Short Call?  A) Positive B) negative C) Positive when the spot is below its strike price and negative when the spot is above its strike price.