12 The purchaser of a put a. accepts the obligation to sell a predetermined number of shares at a predetermined price b. Is betting the price of the underlying security will increase in value c. Is betting the price of the underlying security will go down d will keep the premium whether or not the option is exercised none of the above @ 13 If you owned a diversified portfolio of two dozen stocks and you thought the market was headed for a decline, you could appropriately protect your capital by a. purchasing stock-Index puts b. selling stock-index warrants c. purchasing stock-index convertibles d simultaneously buying an interest rate call and a currency put