If the volatility of the underlying asset decreases (other things held constant), then the:

		Value of the put option will increase, but the value of the call option will decrease.
		Value of the put option will decrease, but the value of the call option will increase.
		Value of both the put and call options will increase but stock price will decrease.
		Value of both the put and call options will decrease but stock price will increase.
		Value of both the put and call options will remain the same.