Which of the following must apply completely for both American and European puts and calls? Select all that apply. None of the other responses. Put premium increases with strike. Call premium decreases with strike Both call and put premiums are convex as functions of strike. Put-call duality Put-call parity Premium increases with time to expiration. Which of the following best describes the role of the risk-neutral probabilities in the binomial model? They work because of duality. They allow you to predict where stock prices will likely go. They make all assets appear to change in value at the risk-free rate. They allow you to discern good investments from bad. None of the other responses