Which of the following option is false? Select the most suitable answer. O a. The gross payoff function of a short European call option is min(0, K-St). O b. The holder of a forward contract is obligated to buy or sell an asset. O c. Considering the premium, it is possible that a call option makes a loss even it is in-the-money. Od. The holder of a call or put option must exercise the right to buy or sell an asset. O e. European options are easier to analysis than America options. An investor is in an option position that gives him/her the right to buy 100 shares for $20 each. There is a 5 for 4 stock split. Which of the following is correct regarding the investor's position after the stock split? O a. There is no correct answer O b. Call options to buy 125 shares for $25. Oc. Put options to sell 125 shares for $16. O d. Call options to buy 75 shares for $25. O e. Put options to sell 75 shares for $16