14. For a call and a put written on the same underlying but at at possibly different strike prices, (a) Both call and put options may be in-themoney at the same time. (b) If the call is in-themoney, then the put will be out-ofthemoney. (c) If one of the options is out-ofthemoney, then the other one is guaranteed to be in-the-money. (d) At least one option will be in-the-money