Another way to view corporate debt is as a portfolio of riskless debt and a short position in a call option on the firm's assets with a strike price equal to the required debt payment . ( ) Viewing debt as an option portfolio is useful as it provides insight into how credit spreads for risky debt are determined I ) You can think of the debt holders as owning the firm and having sold a call option with a strike price equal to the required debt payment e ) None of the above