If you are holding an American call option, you prefer that the time to maturity of the option is:

A. Lower

B. Higher

C. Ambiguous

You are holding a put option that is about to expire. The exercise price is $100. The underlying stock price is $120. Assuming that the decision to exercise has just been made, your payout at expiration is

A. 0.00

B. 20.00

C. -20.00

D. 100.00

E. -100.00

F. 120.00

G. -120.00