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A put option premium has a lower bound that is equal to the greater of zero and the difference between the underlying _ _ _

A put option premium has a lower bound that is equal to the greater of zero and the difference between the underlying ___, prices. The upper bound of a put option premium is the ___, price.
a. spot and exercise; exercise
b. spot and exercise; spot
b. exercise and spot; exercise
d. exercise and spot; spot
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