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What does the shape of the volatility smile reveal about call options on a currency? A. Options close-to-the-money have the lowest implied volatility B. Options

What does the shape of the volatility smile reveal about call options on a currency?

A. Options close-to-the-money have the lowest implied volatility

B. Options deep-in-the-money have a relatively high implied volatility

C. Options deep-out-of-the-money have a relatively high implied volatility

D. All of the above

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