1. The volatility of a stock rises as its price falls. As a result:
   1. The price of call options written on the stock will fall.
   2. The price of put options written on the stock will fall.
   3. The price of put options written on the stock will rise while the effect on its call options is indeterminate.
2. 4. The price of both put and call options written on the stock are unaffected.