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Compared to options written on commodities, options on commodity futures are more popular for which of the following reasons? I. futures contracts are more liquid.

Compared to options written on commodities, options on commodity futures are more popular for which of the following reasons?

I. futures contracts are more liquid.

II. futures options holders can choose between cash settlement and asset delivery settlement.

III. futures price is known immediately from trading on the futures exchange.

a.

I only

b.

II only

c.

I and II only.

d.

I and III only.

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