An investor has exchange-traded call options to buy 100 shares for $110 per share. The maturity of the options is 4 months. The shares pay regular cash dividends of $1 per share in each quarter. Which of the following is the position of the investor after the next dividend payment?

Group of answer choices

Call options to buy 100 shares for $109 each

Call options to buy 100 shares for $110 each

Call options to buy 101 shares for $109 each

Call options to buy 100 shares for $111 each