16. T or F: The time value of a call is largest when the call is deep in the money

17. T or F: the value of a call increases with increases in the corresponding stock price

18. T or F: the delta of a call is positive

19. T or F: The value of a call declines with increases in volatility of the corresponding stock

20. T or F: The value of a call declines as the time to expiration shrinks

21. T or F: It is sometimes economically sensible to exercise early an American call on a non-dividend paying stock

22. T or F: An unexpired out of the money option is worthless.

23. T or F: A protective put consists of long on a stock and long on a put