Which of the followings is not true about the payoffs and profits of option strategies? The Payoff is always higher than the profit from the same strategy Ob The difference between the payoff and the profit is the cost of the strategy OcThe payoff must always be positive and the profit can be negative. Od The profit is parallel to the payoff from the same strategy American options can be valued using a binomial tree by: O a Checking whether early exercise is optimal at all nodes (except for the final nodes) where the option is in-the-money ob Checking whether early exercise is optimal at the final nodes Oc Checking whether early exercise is optimal at the final nodes and the nodes one time step before that Cod. Increasing the number of time steps on the tree