Greg buys a call option on LMN Corporation's stock for an option premium of $$1\mathrm{.}50.$ Which of these statements is CORRECT?

I. Greg hopes that the price of LMN stock will decline.

II$.$ Greg$$s maximum loss on the option is $$150.$

Question $13$ options:

a$)$

II only

b$)$

I only

c$)$

Both I and II

d$)$

Neither I nor II