There are three- and six-month American calls on stock. Suppose the three-month option costs $5 and the six-month option costs $3. Which of the following statements is most accurate given this information?

	a. There is an arbitrage strategy which involves buying the three-month call and selling the six-month call.
	b. If there is a sufficiently large dividend payment between three and six months, there is no arbitrage in this situation.
	c. There is an arbitrage strategy which involves buying the six-month call and selling the three-month call.
	d. There is no arbitrage available in this setting.