If the volatility implied from an at-the-money put stock option were used to price other put options on the stock, which of the following would be true?

Out-of-the money and in-the-money prices would be too high.

Out-of-the money and in-the-money prices would be too low.

Out-of-the-money prices would be too high and in-the-money prices would be too low.

Out-of-the-money prices would be too low and in-the-money prices would be too high.

None of the above