Both Stock X and Stock Y have beta equal to 1.0. All other variables being equal, a put option on Stock X has a greater value than a put option on Stock Y if ______________.

A. the firm specific risk for Stock X is less that the firm specific risk for Stock Y

B. The firm specific risk for Stock X is greater than the firm specific risk for Stock Y

C. The standard deviation of returns for Stock X is less than the standard deviation of returns for Stock Y

D. None of the above scenarios results in a greater value for the put on Stock X