What data do you need in order to compute either a put or a call price on a stock, using the binomial model?

I. Interest rate and time to expiration

II. Stock price now, stock price on good times and stock price on bad times

III. Strike price

IV. Stock volatility

V. Information regarding whether we are pricing a long or a short position

Select one:

a. I and II only

b. I, II, III, IV and V

c. I, II and V only

d. I, II and III only