Which is true about valuing option contracts For a call to be out of the money, its intrinsic value must be greater than zero The time value for a call and a put decrease as the contracts near expiration Due to the efficiency of option markets, the actual market price of an option is equal to it's intrinsic value For a put contract to be out of the money, the actual price of the underlying asset must be greater than option's strike I, II, IV III, IV I, III II IV