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11. (2 points) Which one of the following is the situation when a fund manager wants to use a covered call strategy? a. He has

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11. (2 points) Which one of the following is the situation when a fund manager wants to use a covered call strategy? a. He has a large long position in a stock and wants to protect against potential price drop. b. He has a large short position in a stock and wants to protect against potential price increase. c. He has a large long position in a stock and wants to make some extra cash betting future stock price will not increase above the strike of the call. d. He has a large short position in a stock and wants to make some extra cash betting future stock price will not drop below the strike of the call

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