Selena owns 1,000 shares of Paribus Trust, which currently trade at $25 per share. The profitability of the company has declined over the last two years and she does not expect the share price to increase in value. Alfred will buy the shares from Selena at any time during the next 3 months for $25 per share in return for a fee of $1 per share. If Selena agrees to this transaction, what has she effectively purchased? a) put option b) call option c) naked put d) short call Selena owns 1,000 shares of Paribus Trust, which currently trade at $25 per share. The profitability of the company has declined over the last two years and she does not expect the share price to increase in value. Alfred will buy the shares from Selena at any time during the next 3 months for $25 per share in return for a fee of $1 per share. If Selena agrees to this transaction, what has she effectively purchased? a) put option b) call option c) naked put d) short call