7. b. c. Which of the following are correct statements concerning options contracts? a. Options expire on the first Friday of the expiration month The typical contract size of an option is 1000 shares A call option is "in-the-money" if the market price of the underlying security is higher than the strike price The two types of options contracts are calls and i. I, III, and IV ii. I and III only I and II only iv. I and IV only d. puts iii. Explanation: All options will be one of two types, either a put or a call. Options typically have a contract size representing 100 shares of the underlying security. Monthly options expire on the Saturday following the third Friday of the expiration month. A call option is "out-of-the-money" if the market price is below the strike price and "in-the-money" when the market price is above the strike price. When all answers are incorrect, create one