You own a put option on Phosfranc Inc. stock with a strike price of $$50.$ The current stock price is $$50.$ Which of the following would

benefit you?

The stock price has low volatility.

The stock price stays the same.

The stock price goes down.

The stock price goes up$.$The claim stockholders have on a company's cash flow with outstanding debt can best be described as:

a call option on the firm's assets.

an interest$-$free bond with the same value as the firm's assets.

a put option on the firm's assets.

a put option on the firm's liabilities.