QUESTION $7$

The current market price of a share of Dell stock is $$107.$ IV a put option on this stock has a strike price of $$140$ and a premium of $$8,$ the put

a$.$ sells for a lower price than if the market price of Dell stock is $$112.$

b$.$ is at the money.

c$.$ sells for a higher price than if the market price of Dell stock is $$112.$

d$.$ is out of the money.