You bought one put contract (=100 options) on Beta stock with a strike price of $40 when the market price of Beta stock was $38 a share. Beta is currently selling at $39 a share. Which of the following statements are true given this information?

I.The option is worth at least $100 today.II.The option is worthless today.III.The option has more value today than when he bought it.IV.The option has less value today than when he bought it.

Group of answer choices

I and III only

II and III only

I and IV only

II and IV only