4. Writing a call option on the S&P 500 Index results in: a. A gain if the S&P 500 Index falls. b. A loss if the S&P 500 Index falls. C. Again if the S&P 500 Index rises. d. Neither a gain nor loss, no matter what happens to the S&P 500 Index. 5. When someone "writes" a call option, he has: a. Taken a "long" position in a futures contract. b. "Marked-to-market" a futures contract. c. Sold a call option. d. Bought a call option