Which of the following about option contracts is NOT correct? Multiple Choice . A December put on GE must sell for a higher premium than an October put with the same strike price A put is said in the money when the stock price is lower than the strike price. All else equal, the higher the strike price, the higher the call premium. A call is said out of money when the stock price is lower than the strike price. When a put contract is exercised, the put writer has the obligation to buy the underlying security at the strike p