.

A description

least likely

to explain put-call parity is:

a.

A fiduciary call option strategy and protective put option strategy for an underlying asset

are equal in value

b.

A put is equivalent to a long call, a long position is the underlying asset, and a long

position in the risk-free asset

c.

A call is equivalent to a long put, a long position in the underlying asset, and a short

position in the risk-free asset.