What happens to the stock price when the stock pays a dividend? What impact does a dividend

Question:

What happens to the stock price when the stock pays a What impact does a have on the prices of call and put options?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...