(Stock) option prices can be affected by different factors. Which statement is TRUE? A) An American option cannot be worth less than a European option on the same underlying stock and with otherwise identical characteristics. B) Whereas an options time value can be zero, an options intrinsic value is always positive. C) An increase in the volatility of the underlying stock increases the intrinsic value of calls and puts on that stock (keep all other factors that influence option prices constant). D) If put options are out-of-the-money that means that you do not have to pay for the option when the stock price exceeds the exercise price. The option is basically for free.

please explain each option!