Question 14 1P Purchasers of stock options A have a claim on the profits of the firm issuing the underlying securities. B have the right to buy or sell a certain number of underlying shares. own a financial asset with benefits of firm ownership. have the obligation to buy or sell a predetermined amount of shares at the strike price. Question 15 The option premium is A the fee charged by the options exchanges for executing transactions. B the amount by which the stock price is expected to move before the option expires. C the market price of the option. the difference between the strike price and the underlying price of the security. Question 29 Treynor's measure of portfolio performance focuses on (A) diversifiable risk. B total risk. the standard deviation of the portfolio. D nondiversifiable risk