3 pts Question 14 The Black-Scholes model suggests that, assuming all else equal, if the time to expiration is shorter: The value of a call option is higher The values of calls are higher but the values of puts are lower The value of a put option is lower Time is not a component of the Black-Scholes model 3 pts Question 15 At expiration, the time premium of an option: Depends on the difference between strike price and stock price Is always negative Is zero for calls and puts O is zero for calls but not for puts