Which of the following is true?

Group of answer choices

(a) If you write a call option and you own the underlying stock, then you are a speculator with a high risk position

(b) If you buy a call option and you do not own the underlying stock, then you are a hedger with a low risk position

(c) If you buy a put option and you own the underlying stock, then you are a speculator with a high risk position

(d) If you sell a put option and you do not own the underlying stock, then you are a hedger with a low risk position

(e) None of the above is true