Which of the following statements about option contracts is NOT correct?

Select one:

a.

The seller of a put option loses if the spot price, plus the premium, is below the exercise price when the option is exercised.

b.

The buyer of a call option benefits if the price of the spot is above the exercise price when the option is exercised.

c.

The buyer of a put option gains if the price of the spot is below the exercise price when the option is exercised.

d.

The seller of a call option loses if the spot price, plus the premium, is below the exercise price when the option is exercised.