Consider an American and a European call, both of which are written on the same asset, have the same strike and the same time-to-maturity. The underlying asset can move up by a step of u or down by a step of d. Which of the following statements is correct for the binomial tree?

A) The risk-neutral probability of an up movement for the American call is smaller than of the European call when 1-u < 1-d.

B) In the case of an American option, the value of the option at the final nodes is NOT the same as for the European option.

C) To calculate the price of an American option, you need to compare the intrinsic value to the time value at expiration.

D) The risk-neutral probability of an up movement for an American call is the same as that of a European put.