Assume you are reviewing a table that lists the current stock option contracts and quotes. On a specific contract the table shows an option interest value of 38 and volume of 9. This means that:

Multiple Choice

• 9 contracts were traded on that day at a price of $.38 per share.

• 9 contracts were exercised on that day while 38 more were traded.

  Incorrect

• 38 contracts were traded on that day at the bid price and 9 were traded at the ask price.

• 9 of the 38 outstanding contracts traded on that day.

  Correct

• 38 contracts were traded on that day compared to only 9 traded on the previous day.