A Necessary and Sufficient Condition to Rule Out Arbitrage Profits $\gt$

A necessary and sufficient condition to rule out arbitrage profits in the binomial tree is that the following must hold:

A) "up factor $\gt$ down factor $\gt$ dollar return" [U $\gt$ D $\gt$ (1 + R) ]
B) U $\gt$ (1 +R) $\gt$ D
C) (1 + R) =U $\gt$ D
D) (1 + R) =(U + D) /2
E) None of these answers are correct.