Question 4: Which of the following is/are true on option on a non-dividend paying stock? 1. When market becomes more volatile, a call option will gain value as there are more upside, but put will lose value. 2. A longer expiry put will always worth more than a shorter expiry put assuming everything else is the same 3. American put will always equal or worth more than European put assuming everything else is the same A. Only 1 B. Only 2 C. 1 and 2 D. 2 and 3 E. All of them