Consider the following statements:

I$)$ Stocks with very high betas are riskier and, on average across stocks and over time $($with enough averaging along both dimensions!$),$ have higher future returns than stocks with medium betas.

II$)$ As a result of granting many stock options to its employees in the past, a corporation's stock P$/$E ratio can be lower today that it would be have been if the corporation had granted less employee stock

options.

Which options are true and false? They can both be true or false as well