What is the basic idea behind the replication approach to valuing an option?

Select one:

If we buy shares and enter one short option position, the payoff to this two-piece portfolio precisely matches the payoff to the option.

If we buy shares and invest $B in the bank, the payoff to this two-piece portfolio precisely matches the payoff to the option.

If we buy shares and enter one long option position, the payoff to this two-piece portfolio is certain/riskless.

If we buy shares and invest $B in the bank, the payoff to this two-piece portfolio is certain/riskless.

If we buy shares and enter one short option position, the payoff to this two-piece portfolio is certain/riskless.