18. I F Buying a call with a lower exercise price offers a greater profit potential than one with a higher exercise price. 19. I F Both call and put writers have the potential for unlimited losses. 20. T F Any strategy consisting of only long options will lose money if the stock price stays the same. 21. I F If St>X, then the profit for a call option can be expressed as: N = ST-X-C. 22. F T F Selling a put is a bullish strategy that has a limited gain (the premium) and a large, but limited, potential loss