If the implied volatility of an option is lower than your expectation of future stock volatility, you would be more likely to conclude that the option is

	a.	Correctly priced because implied volatility makes the Black-Scholes option price match the observed price
	b.	Over-priced because the implied volatility, when plugged into Black-Scholes model, generates a value higher than the observed price
	c.	Underpriced because the observed price of the option is lower than you think it should be