8. A call option has an exercise price of $100. At the exercise date, the stock price could be either $50 or $150. Which investment strategy provides the same payoff as the stock? A) Lend PV of $50 and buy two calls. B) Lend PV of $50 and sell two calls. C) Borrow $50 and buy two calls. D) Borrow $50 and sell two calls