12 .Which one of the following is true for in the money, out of the money, and at the money option contracts?

a. Out of the money options are worthless.

b. Given everything else being the same (the underlying stock, expiration date), in the money put options have higher strike prices than at the money put options.

c. At the money options will always remain at the money before expiration date.

d. None of the above.