16. The delta of a put option on a stock is always A. between 0 and -1: B.between -1 and 1; C. positive but less than 1; D. greater than 1 17. The price of a stock put option is correlated with the stock price and correlated with the exercise price. A. negatively; negatively: B. negatively: positively: C. positively: negatively: D. positively; positively 18. According to the put-call parity theorem, the payoffs associated with ownership of a call option can be replicated by A shorting the underlying stock, borrowing the present value of the exercise price, and writing a put on the same underlying stock and with the same exercise price B. buying the underlying stock, borrowing the present value of the exercise price, and buying a put on the same underlying stock and with the same exercise price C. buying the underlying stock, borrowing the present value of the exercise price, and writing a put on the same underlying stock and with the same exercise price D. shorting the underlying stock, lending the present value of the exercise price, and buying a put on the same underlying stock and with the same exercise price 19. A call option on Juniper Corp. stock with an exercise price of $75 and an expiration date 1 year from now is worth $3 today. A put option on Juniper Corp. stock with an exercise price of $75 and an expiration date 1 year from now is worth $2.50 today. The 0 risk-free rate of return is 8%, and Juniper Corp. pays no dividends. The stock should be worth today . A. $69.73; B. $71.69; C. $73.12; D. $75.25; E.$77.80