Which of the following statements is false? The intrinsic value is the amount by which the option is currently in-the-money or O if the option is out-of-the-money. Because an American option cannot be worth less than its intrinsic value, it cannot have a negative time value. The value of an option generally decreases with the volatility of the stock. An American option with a later exercise date cannot be worth less than an otherwise identical American option with an earlier exercise date