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Which of the following option characteristics is true? A put option is in-the-money when the asset price is less than the strike price. LEAPS are

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Which of the following option characteristics is true? A put option is "in-the-money" when the asset price is less than the strike price. LEAPS are long-term (over one year) options that expire in December of each year. Warrants are identical to listed options, except they are not exchange traded. I only. b. Ill only. I. II. III a. I and II. Il and II C. d

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